With 2.4 million American couples annually opting
for this tradition, the joining of a man and woman in marriage generates
niche markets for every service provider, from the photographer who
snaps the shots to the seamstress who ties the knots. After the vows
are spoken, rings are exchanged, and gifts are given, more than $32
billion will have been spent in 1998 on celebrations of love and marriage.
Today's bride is 25 and her groom is 27 and they
are engaged for an average of 13 months with 85% of them planning a
formal wedding. Due to higher education and career opportunities women
are marrying later. The age factor increases by one year per decade
for first marriage brides and grooms.
The marriage/honeymoon market is a year round business
with 45% of marriages occurring in the first six months and 55% occur
in the second six months. Peak marrying months are May through October,
with the highest engagement period being December through January.
The June bride will always be radiant, but in fact
more marriages take place between Independence Day and Christmas than
between January and June, with the majority occurring from May through
Once she says yes, the date is set, and the family
is filled in, the spending begins!
Over the past decade, the number of marriages has
remained consistent but the worth of the bridal market has grown 15%
from $27.8 billion in 1989 to $32 billion today.
Once a couple gets engaged, they are engaged in
consumption. This lifestage event will trigger more purchasing than
ever before. Consumers buy more in the six months following a lifestage
change than a settled household does in five years. 40% of people undergoing
lifestage changes develop new brand loyalties.
Today's newlyweds are more likely to be dual earner
couples. 83% of brides and 89% of grooms are working, with an average
combined income of $65,000 ... that's twice as affluent as the average
U.S. household earning $35,492.
YEAR ROUND TRAVELLER
WHY HONEYMOONERS ARE THE PERFECT CUSTOMERS
· They pay more-approximately $4,000.
That's 3 times what the average U.S. leisure traveler spends
on a family trip.
· They pay full price-72% of engaged women say they
are less concerned with price and more concerned with getting
what they want.
· No seasonal limitations-The marriage/honeymoon market
is a year-round business with the engaged couple spending
more time and money to make the honeymoon the trip of a lifetime.
Only the honeymoon market delivers year-round travelers.
· They travel longer-The average length of a honeymoon
trip is 8 days compared to 60% of leisure travelers who will
stay an average of 3-7 days on a trip.
· They want to spend-Honeymooners have more disposable
income and are extraordinarily acquisitive, making purchases
in many different categories, and shopping with immediacy.
Center for Health Statistics
1998 SPENDING POWER
Apparel, Invitations, Flowers, Reception,
Home Furnishings, Household Equipment,
Destination weddings, where the couple combine the
trip with the ceremony is a growing trend. The reception may also be
included in the package with hotel accommodations. Some bring a group
of close friends or family who vacation for a few days, then leave them
to enjoy a private honeymoon.
Cruises are strong and consistent part of the $4.5
billion dollar honeymoon market. Complete relaxation defines this mode
of transportation, with accoutrements including 24-hour room service,
spa facilities, and great food.
selection is based on the following criteria:
While 17% of Americans own a valid passport, today's
honeymooners are seasoned travelers with a passport ownership of 30%.
A honeymooner is the most unique and desirable travel
customer. No other customer embarks on such a full-price shopping spree
- or does so with an immediacy that yields unprecedented branding opportunities
for a lifetime.