Engaged Couples Cutting Back on Lavish Weddings

Last Updated on March 17, 2024 by Robert C. Hoopes

In 2023, the average cost of a wedding in the US skyrocketed to over $30,000 for the first time, prompting engaged couples to reassess their spending on non-essential wedding expenses. This significant increase in wedding costs has led to a shift in trends, with the number of weddings expected to decrease by nearly 17% after peaking in 2022.

The slowdown in weddings can be attributed in part to the impact of the Covid-19 pandemic, which forced many couples to postpone or cancel their nuptial plans. As a result, there was a surge in demand for weddings in subsequent years. However, younger generations, such as Gen Z and Gen Alpha, are showing less interest in big weddings and are opting for cohabitation over marriage.

To combat rising wedding costs, many couples are cutting down on non-essential services for their weddings. This trend has prompted small businesses that cater to weddings to adapt their offerings to meet changing consumer preferences and survive in a competitive market.

Despite the efforts to save money, many couples still choose to hire traditional wedding vendors such as photographers and makeup artists to make their special day memorable. This highlights the enduring appeal of certain wedding customs, even in the face of changing trends.

As the wedding industry continues to evolve, it is clear that couples are becoming more conscious of their spending and are seeking ways to make their weddings both memorable and cost-effective. The landscape of weddings may be shifting, but love and celebration remain at the core of these joyous occasions.