Navigation Links
Wedding Services in the US Industry Market Research Report from IBISWorld has Been Updated
Date:8/8/2013

Los Angeles, California (PRWEB) August 08, 2013

Economic uncertainty and an increasing acceptance of cohabitation caused a significant proportion of couples to postpone their nuptials over the past five years, posing a challenge to the Wedding Services industry. Industry unemployment, which skyrocketed to 60.3% in 2009, caused people to delay spending on industry services. This resulted in a 5.8% revenue decline in 2009. Meanwhile, according to IBISWorld industry analyst Sally Lerman, “slowly changing social norms have dragged down the marriage rate over the past several decades and in the five years to 2013, when it is expected to decline at an annualized 0.9%.” During this time, industry revenue is anticipated to decrease at an average annual 0.8% to $50.6 billion, including a 0.8% expected rebound in 2013 thanks to rising consumer spending.

Faster internet connections over the past five years have enabled Wedding Services industry operators to reach out to potential clients at a lower cost. In addition, social networking platform developments have shifted vendors' marketing strategies toward communicating a unique vision to consumers. “Less expensive and more effective online communication has also increased competition by enabling new industry entrants to market to the same demographics as established businesses,” says Lerman. Such improved marketing channels are expected to drive enterprise growth at an annualized rate of 3.6% to 501,798 firms in the five years to 2013.

The marriage rate is forecast to continue declining an average 0.9% per year during the five years to 2018, though this is not expected to dramatically impact industry performance. The amount spent on weddings is estimated to grow during the next five years as higher disposable income increases the demand for large, costly weddings. A slow but steady 2.9% annualized increase in consumer spending is projected to support revenue growth, as unemployment falls about 4.8% per year on average during the next five years. In addition, as the average age of marriage and length of engagement further increase, couples will have more time to plan and save money for their ceremonies. As a result, industry revenue is projected to rise in the five years to 2018.

There are no identifiable major players in this industry. The Wedding Services industry is extremely fragmented because it is composed of a wide variety of highly specialized vendors, including florists, venue providers and bridal gown retailers.

For more information, visit IBISWorld’s Wedding Services in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

This industry is defined broadly to include day-of wedding service providers, apparel retailers and venues. Wedding coordinators are included because they execute many responsibilities on the day of the event. The industry, however, excludes pre-wedding and honeymoon expenses.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Read the full story at http://www.prweb.com/releases/2013/8/prweb11008596.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Maui'd Forever Adds Kahu Harold Kilborn As Minister Choice for Kauai Hawaii Weddings
2. Father-Daughter & Mother-Son Songs for Your Wedding Day; Beautiful New Wedding Songs from T Carter Music ~ the Leader in New Wedding Music
3. Wedding Season - Spray Tan for ‘The Big Day’
4. Maui'd Forever Adds New Photographer For Oahu Hawaii Wedding And Vow Renewal Clients
5. Maui'd Forever is Happy to Announce the Hawaiian Airlines Wedding Wings Program for Wedding Clients
6. Maui’d Forever Creates All-inclusive Wedding and Travel Packages to Hawaii
7. Maui'd Forever Adds New Minister For Their Santa Barbara Area Weddings
8. TheBeautyPlace.com Previews their Emergency Big Day Kit to Get Brides Ready For this Upcoming Wedding Season
9. Maui'd Forever Puts Rev. Jerry Sulliban on the Oahu Wedding Team and is Now Available with Their Packages
10. Footlogics Canada Catwalk Insole and the Perfect Wedding Day; A Gift for Your Feet
11. Unique Wedding Gift Ideas: Custom Engraved Personalised Photo Frames
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... ... today announced its strategic partnership with Connance, a healthcare industry leader providing ... companies’ proven, proprietary technology combine to provide health systems, hospitals and ambulatory ...
(Date:6/27/2016)... ... 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star rating to Best ... individuals in the United States and Canada wear eyeglasses. Once considered to be a ... and make a fashion statement. Even celebrities use glasses as a way of creating ...
(Date:6/26/2016)... Creek, Michigan (PRWEB) , ... June 26, 2016 , ... ... joined as sponsor of the 2016 Cereal Festival and World’s Longest Breakfast Table in ... in honor of the city’s history as home to some of the world’s leading ...
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet supplements ... that was developed to enhance the health of felines. The formula is all-natural and ... main herbs in the PawPaws Cat Kidney Support Supplement Soft Chews are ...
(Date:6/26/2016)... Lake Orion, Clarkston, Michigan (PRWEB) , ... June ... ... direction with respect to fertility once they have been diagnosed with endometriosis. These ... tolerable intercourse but they also require a comprehensive approach that can help for ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... and SAN CLEMENTE, Calif. , June 24, 2016 ... mobile pulmonary function testing company, is now able to perform sophisticated ... by ndd Medical Technologies , Inc. Patients ... hospital-based labs.  Thanks to ndd,s EasyOne PRO ® , ARL patients ... get any needed testing done in the comfort of her own ...
(Date:6/24/2016)... , June 24, 2016 VolitionRx ... of Dr. Edward Futcher to the ... effective June 23, 2016.Dr. Futcher was also appointed ... Governance Committees.  As a non-executive member of the ... and strategic counsel to VolitionRx in connection with ...
(Date:6/23/2016)... BEVERLY HILLS, Calif. , June 23, 2016 ... faced the many challenges of the current process. Many of ... option because of the technical difficulties and high laboratory costs ... would have to offer it at such a high cost ... to afford it. Dr. Parsa Zadeh , ...
Breaking Medicine Technology: