Just five years ago the market was relatively strong, and weddings were notoriously over the top. Everyone wanted the big wedding, and most of them got it. One year later things went spiraling down so fast it left people and businesses with their heads swimming, and has take the last four years to start seeing some answers to how to handle the new economy.
Something that is often overlooked by businesses is that according to J. Walker Smith apparently people in middle budget bracket have, at least currently, almost disappeared. People who used to fit in that category are now struggling to pay bills, let alone spend a huge amount of money on an event like a wedding.
What this means to the wedding industry is that you as a business owner have to realize that you aren’t marketing to middle budget brides anymore. You are marketing primarily to low budget and high budget brides. Perhaps this is a big part of the puzzle in understanding why it’s so hard to marketing to today’s bride. What do you think? Have you had many middle budget brides in the last few years, or are you seeing a new influx of middle budget brides in the market?
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