A 'must read' article for everyone in the wedding industry from The New York Times about how couples around the country are responding to the economy by 'slashing' wedding budgets. These consumer insights and behaviors are critical to understand and will have far-reaching impacts across all budget levels of weddings.
Smart and savvy wedding professionals will not be reactive but rather proactive in understanding the mindset of today's newly engaged couple and offer creative ways for them to afford {and justify} their particular goods or services and above all else, overdeliver at every single point of contact during each stage of the wedding planning cycle and beyond.
There is no doubt that the cream will certainly rise to the top and that there will be quite a few casualties along the way of those that have coasted for a long time and ridden the wave of consumer excess. Those that truly 'get it' will emerge stronger than ever before - which one will you be!?!
4 comments:
Great article, thanks for sharing it!
I agree that this is going to be an important season for anyone in business. I've been working to increase as well as express the value of my product and service, and hopefully the momentum of that commitment will pay off.
Interesting article... Some brides may be slashing things left and right but I don't think it's the case for all, especially the higher end brides. It definitely is important to make your case with your clients why you are worth the money you are charging!! Wedding vendors - don't lose hope! :)
I agree that everyone will be watching prices. By cutting back in some areas, such as flowers or more numbers of guests they will be able to retain the luxuries that will make their day a day to remmber.
You may be interestedin seeding my article on wedding trends 2009:
http://www.patb-photography.co.uk/996/wedding-trends-for-2009/
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