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The Association of Travel Marketing Executives is an association of executives with vital responsibilities in the marketing of travel and tourism worldwide.

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In This Section >> Vicki Freed of Carnival | Making Colonial Williamsburg Cool | Chicago 2001 Campaign | Honeymoon Market Report | NTOs Expanding Roles | Beth Mack's Marketing Rules |

Honeymoon Market Report

 

The Lucrative Honeymoon Market

By Jacqueline Johnson

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 October.

SPENDING POWER

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.

 

January

February

March

April

May

June

July

August

September
October

November

December

4%

7%

8%

8%

10%

10%

10%

10%

10%

10%

6%

7%

 Source:1988 National Center for Health Statistics

1998 SPENDING POWER

Engagement/Wedding Rings:

$3.3 Billion

Apparel, Invitations, Flowers, Reception, Photos:

$16.4 Billion

Home Furnishings, Household Equipment, Ins.:

$7.8 Billion

Honeymoon Travel:

$4.5 Billion

ON-SITE WEDDINGS

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.

 RESORT/DESTINATION SELECTION

Resort selection is based on the following criteria:

Atmosphere

Privacy

Air Conditioning

Reputation

Price

Room Luxury

Food

Nightlife

View

Sports

85%

80%

72%

65%

61%

60%

57%

54%

48%

20%

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.

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