According to the most recent Wedding Report, based on 6,792 survey samples collected from January 1 to December 31, 2018, couples’ spending on weddings went down 4%, totaling $24,723 on average. Although most categories went down, jewelry-related spending remained relatively unchanged from 2017.
According to the report, event location, food, and decorations all saw higher demand, while all other categories either went down or remained flat year-on-year. These figures, says the Wedding Report analyst, may mean that couples are “looking for an experience, not a traditional wedding”.
Spending on wedding-related jewelry in 2018 was as follows:
• Average spending on bracelets remained unchanged, averaging $174 in 2018.
• Average spending on earrings remained unchanged, averaging $1514 in 2018.
• Average spending on engagement rings went down only 0.4% yar-on-year, averaging $3,388 in 2018.
• Average spending on necklaces remained unchanged, averaging $199 in 2018.
• Average spending on wedding rings/bands for her went slightly down (0.9%), averaging $775 in 2018.
• Average spending on wedding rings/bands for him remained almost flat (-0.2%), averaging $454 in 2018.
Wedding demand (the percent of total couples getting married that purchase the product or service) in 2018, in the jewelry-related category, was as follows:
• 24% of the couples married bought a bracelet
• 39% of the couples married bought earrings
• 87% of the couples married bought an engagement ring
• 30% of the couples married bought a necklace
• 86% of the couples married bought a wedding ring/band for her
• 92% of the couples married bought a wedding ring/band for him
And here are some of the more striking changes in demand in 2018:
• Demand for a tuxedo/suit went down 8.3%
• Demand for makeup service went down 7.6%
• Demand for a live band went down 36.7%
• Demand for reception menus went down 25.5%
• Demand for a wedding videographer went down 20.4%
• Demand for limo rentals went down 31.8%
