Wednesday, May 14, 2008

Wedding Spending Projections


Marc Fuller said...

There is a real problem in our profession with this statistical calculation of average wedding spending. As Mark Twain wrote "there are three kinds of lies: lies, damned lies, and statistics." The problem is that we tend to take at face value a statistic thinking we understand what it means.

Often we will think "average spending" and assume that it means that half of the weddings spend above and half spend below. But that is not so in wedding spending. If one looks closer at Wedding Reports figures two important aspects are revealed.

1) Only 20% of weddings exceed the ~28K spending "average". Yes, just 1/5th.

2)One-half of all weddings spend no more than 50% or less of the ~28K "average". Half spend less than $15K.

"Reality" wedding TV programming and business news quoting $28K as the "average" is the problem and has set-up a dynamic where ~80% of the brides feel inadequate and apologize for having a budget less than "average" and being thrifty or using Davids Bridal.

As wedding professionals somehow we must knock that down. I even find apologies from wedding pros that their brides seem to be poorer than the "average" bride.

I think that the issue of trying to match an unrealistic but authoritatively reported "average" is lowering our self esteem, and divorcing ourselves from reality and each other. For both brides and professionals.

Marc Fuller
Wedding Professional Success!

Anonymous said...

Out of curoisty, do these projections only represent the estimated wedding costs for couples in America, or can it be applied to include couples in Candada as well?
i.e. are these wedding projections representative of the whole North American market?
Thank - you.