The traditional white wedding, once a hallmark of American life, has seen a shift in recent years. The Covid-19 pandemic led to a surge in lavish weddings, with the average cost breaking $30,000 in 2023. However, with inflation eating into consumers’ wealth, some engaged couples are reevaluating their wedding expenses, impacting wedding vendors who provide services like videography and catering.
The number of weddings in the US reached a 25-year high in 2022, but a 17% decrease is expected in the coming years. Generational trends show that Millennials are aging, and younger generations place less importance on extravagant weddings. This shift has led to a more subdued wedding industry, with more couples opting for smaller, intimate celebrations.
Despite the changing landscape, some couples still choose to incorporate wedding traditions and hire vendors for their special day. While some may cut costs on nonessential services, the desire to make their wedding day special remains. As the wedding industry adapts to these new economic realities, businesses are diversifying their offerings to stay afloat in a changing market.