Despite the recession, the overall wedding industry remains in good shape.
Results from an early August state of the industry survey shows the wedding sector in good shape despite the economic slowness in many areas.
Most businesses are reporting that current sales are good with consumer spending staying the same as the rates for July. Businesses are also reporting that the number of couples getting married is steady, three-month expectations are good; however, most are reporting increased costs to run their businesses. Despite the continued good status, there has been some slowing.
The primary change from July to August has been the percent of change in current sales and sales expectations from the “Excellent and Good” range. The change in current sales from “Excellent and Good” was about 5 percent. Most of the 5 percent change shifted into the “Fair” range. The shift in expectations was 5 percent also. However, most went to the “Neutral” category.
State of the Industry Vendor Survey
Current Sales, past month - Good at 33 percent
Amount Spent, past month - Stayed the same at 52 percent
Couples get married - Staying the same at 67 percent
3 Month Expectations - Good at 37 percent
Business Cost, past month - Increased at 55 percent
For more information about the State of the Industry survey, go to http://www.theweddingreport.com/go.cfm?link=1