Average Cost of Wedding Increases
Jul 14, 2010 Wedding Planning InstituteAccording to research and statistics from WE tv Networks Wedding Report, the average cost of a wedding increased 21.9 percent in the first half of 2010, from $19,581 (in late 2009) to $23,867. That’s a good-size increase for the industry, and it should put a smile on the face of wedding planners everywhere. Despite the slow-to-churn economy, the wedding industry is growing, which means there are opportunities for success at every turn - if you know where to look. While not every service sector saw growth, most of them did. Let’s break down the increase (with more thanks to WE for these numbers):
* Planner/consultant a la carte services were up 84.2% at an average of $1,171.
* Gifts for the bride were up 53.1% at an average of $253.
* Hiring a consultant for initial planning was up 50.4% at an average of $920 - the sector with the biggest gain in spending.
* Other jewelry was down 61.7% at an average of $304.
* Reception accessories was down 55.3% at an average of $200.
* Ceremony accessories was down 49.7% at an average of $207 - the sector with the biggest decline in spending.
Demand went up in the first half of 2010 for products and services. Those with the biggest increases were travel and transportation and musicians, while demand went down the most for facials, manicures and pedicures and teeth whitening.
We don’t think there is a lot of surprise hidden in these numbers. It makes sense that brides are putting their money where it matters most and not with the frivolities often associated with weddings. Hiring a wedding planner to put together a budget at the very beginning makes perfect sense to us, and we’re not surprised to see an increase in that sector of the industry. What does this mean to LWPI’s certified wedding and event consultants? It shows you exactly how to market yourself in this down economy. Showing brides how to get the most bang for their buck is exactly what they’re looking for, and these numbers prove it. It’s easy to get down about business right now if you don’t look for the smaller opportunities. Offering smaller planning packages is a great way to get your foot in the door, and from there you can easily prove to a bride that she can’t live without you.
Tags: brides, economy, planning, wedding, Wedding Industry
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July 24th, 2010 at 12:36 am
Sometimes regardless on how much you planned to spend on the specific part of the wedding, most couples eye on one part of celebration and they have the tendency to be tempted and eventually overspend. Hiring a planner will always be the best option.
July 25th, 2010 at 11:12 am
Soooooo happy to see that hiring a consultant for initial planning is up 50.4%…considering I’m nearing the end of my certified wedding and event planning course!
August 9th, 2010 at 9:28 am
Wedding planner use to be thought of for just the rich and famous but now thats not the case. Today’s wedding planners are more affordable and are customizing their services to the clients budget. Wedding planners will help their clients avoid disasters at their functions because they oversee all of the operations of the day to the last detail. Should there be an emergency at the event, the planner is usually better prepared to deal with the crisis rather than having the client try to figure out what to do.
August 26th, 2010 at 10:58 pm
I am Joy owner of Bella Inizi Weddings & Special Events in Central Texas. I have been working on my packages and my pricing for my services. I was very lost and concerned that I have’nt been going about it the right way. I was reading through the post and I found that it did help and will help out a lot especially during down times. I will know about other ways to generate business. I also work in a bridal boutique selling gowns and accessories and I see so many brides coming in trying to plan their own wedding, stressing out about the little details, with bridesmaids pulling at them on one end and their mothers pulling from the other end. I really wish that I could offer to help but many times I can tell that they are already in so deep to whats already been done so far that they could not even fathom allowing a planner to step in much less a brand new (wet behind the ears planner) one like me. So therefore, I try to be caredul in what I suggest.
Thanks for taking the time
Joy Diggs