Economy sticking a cake fork in bridezilla?
More from The Big Money |
(external links) |
Erin Robertson and her family are willing to budget as much as $30,000 for her upcoming wedding, but Robertson went bargain shopping with Stamilio at Filene’s Basement for her dress. She ended up with a $730 ivory silk dress, tax included, that was originally $3,500.
Another popular way for newlyweds to save is tweaking or rethinking their honeymoons (an expenditure that is not included in The Wedding Report’s annual spending estimates). Barb Maxwell, who specializes in honeymoon vacations at the travel agency Viking Travel, said requests for European trips have sharply declined over the past several months, and that couples are increasingly choosing packages that include extra benefits and amenities, like free breakfast. The declining dollar, which makes travel abroad more expensive, certainly has had an impact on honeymoon planning.
Portofino, Italy, had been 30-year-old Kate Witten’s ideal honeymoon destination for four years. Witten, a yoga instructor who lives in Atlanta, and her boyfriend chose the Mediterranean fishing village just a few weeks after they started dating. But when they realized a few months ago how expensive it would be with the euro worth about $1.55, they nixed the idea and decided on South Africa instead.
“Who knows how long the euro is going to stay this way?” said Witten. She noted that their two-and-a-half week trip to South Africa will add up to a relatively hefty $8,000, but they will be able to stay at high-end hotels. “We would’ve had to really pick and choose carefully in Europe.”
With brides and grooms looking for ways to pare wedding budgets, retailers and planners are noticing some business shifts.
Anna Podore, a buyer for Filene’s Basement’s wedding dress sale, said moderate-price bridal retailers are not selling quite as many dresses as in the past and, as a result, have more inventory to sell to Filene’s at marked-down prices. Brides in the market for dresses over $3,000 appear resilient to the economic downturn, Podore said, but mid-range dresses — $1,000 to $2,000 — seem to be finding fewer takers.
Brides are also cutting back on extras. Lauren Walling, marketing director of Catalina & Co., a small bridal gown shop in Brooklyn, said that although orders for designs and alterations keep increasing, orders for cleaning and preservation have declined.
“Higher-end venues and vendors are going to have to reposition themselves as things tighten up,” the Perfect Wedding Guide’s Elliot said. And for smaller players in the wedding business, “it’s going to be hard to compete.”
Of course, many couples — some even from middle-class familes — are still paying well over $100,000 for their weddings. And although wedding spending appears to be plateauing right now, most experts expect it to resume its climb.
“Remember, it’s the dream,” Elliot said. “Many will spend on the dream in good times and in bad.”
- Discuss Story On Newsvine
-
Rate Story:
View popularLowHigh - Instant Message
MORE FROM U.S. BUSINESS |
| Add U.S. business headlines to your news reader: |
Sponsored links
Open an Account Online Today! $7 Trades & Powerful Trading Tools.
www.scottrade.com
Resource guide

