Rethinking Wedding Splurges: How Engaged Couples Embrace Simplicity
Gone are the days of extravagant multi-tiered cakes and elaborate floral displays. Engaged couples are shifting towards simpler, more intimate weddings, redefining traditions and priorities.
The traditional white wedding, complete with multi-tiered cakes, elaborate floral displays, and choreographed first dances, has long been a symbol of American life.
In recent years, the obsession with extravagant weddings reached new heights, especially in the wake of the Covid-19 pandemic. As inflation rates soared, the average cost of a wedding surpassed $30,000 for the first time in 2023, as reported by The Wedding Report, a research company specializing in wedding data.
A Valentine's Day wedding ceremony took place on the steps of the Miami-Dade County Courthouse in Miami, Florida on February 14, 2024. Twenty couples exchanged rings in an outdoor service officiated by the Miami-Dade Clerk of Courts Marriage License Bureau. 
Joe Raedle/Getty Images
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Unfortunately, due to the impact of elevated inflation over the past two years, some engaged couples are finding it harder to justify splurging on non-essential items like dessert tables and extra floral arrangements. This shift in spending priorities has created challenges for wedding vendors offering services such as videography, photo booths, and catering.
Meanwhile, vendors are also dealing with a concerning challenge - a predicted decrease in the total number of weddings.
The number of weddings in the US reached a peak in 2022, the highest it has been in 25 years. However, just two years later, there is a projection of almost 17% fewer weddings, according to Shane McMurray, the CEO and founder of The Wedding Report. He mentioned that the days of high demand for weddings are not expected to come back anytime soon.
What caused the recent increase in weddings?
One factor behind the surge in weddings was the forced postponements and cancellations in 2020 and 2021 due to Covid-19. This led to pent-up demand as many couples had to delay their special day. Additionally, the rise of "wedding influencers" on Instagram and the popularity of the TikTok hashtag #WeddingTok, which garnered billions of views, also contributed to the trend.
“I think it was the peak,” said McMurray.
Gabrielle Stone, who has been a wedding planner in Boston for 18 years, enjoyed the recent boom.
In an interview with CNN, Stone shared that her business experienced its peak in 2022 and 2023, with high demand leading her to turn away potential customers. However, she mentioned that in 2024, there has been a slight decrease in the number of weddings booked, indicating a cooling trend.
A recent wedding where Gabrielle Stone served as the planner. Stone said lately it feels like there is "a little bit more competition" as some people chose to dive into career wedding planning during the pandemic.
Gabrielle Stone recently planned a wedding and noticed a rise in competition in the industry. She mentioned that more people have started pursuing a career in wedding planning during the pandemic.
In 2020, single people who stayed indoors may have missed out on opportunities to go on dates. Some of these potential couples who never crossed paths last year could have ended up getting engaged this year.
Signet Jewelers, the parent company of Kay Jewelers, Zales, and Jared, echoed similar sentiments.
Signet CEO Gina Drosos mentioned on the company's December earnings call that the jewelry category is facing challenges, with a 25% decrease in engagements due to the impact of Covid. Despite this, she expressed confidence in the potential for growth next year.
Unfortunately, generational trends suggest potential difficulties ahead for Signet and the wedding economy as a whole.
djedzura/iStockphoto/Getty Images
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The wedding industry is not experiencing much growth, according to McMurray. He noted that the largest group of Millennials is getting older, while the newer generations like Gen Z and Gen Alpha are not placing as much emphasis on having extravagant weddings. As a result, more people are choosing to cohabitate instead of tying the knot, leading to a stagnant market for weddings.
McMurray mentioned a study by the University of Virginia and Brigham Young University that discovered modern teens are not as convinced as earlier generations that marriage brings more happiness and fulfillment. "This decline has been happening for quite some time," McMurray explained.
Wedding expenses are increasing.
Toni Burrowes, a 30-year-old teacher from Central Florida, chose to forego a lavish wedding last month. Instead, she decided to have a simple courthouse ceremony with 18 close family members and friends.
Burrowes used to dream about having a destination wedding, but after seeing her older sister go through the stress and high expenses of planning a big wedding, she changed her mind.
Toni Burrowes said she "didn't really feel the need" for a big wedding reception. "I was looking within a budget," she said.
Toni Burrowes said she "didn't really feel the need" for a big wedding reception. "I was looking within a budget," she said.
Courtesy Toni Burrowes
"We make money to support ourselves at the moment and we also have a daughter," she explained. "All of these things were on my mind when considering the wedding: 'Do I really want to spend so much money on just one day, instead of saving up for our future home?'"
She is not alone in feeling overwhelmed by the costs, according to McMurray. He mentioned that he has noticed an increasing number of couples opting to forgo wedding services that they consider to be unnecessary.
He mentioned that there has been a decrease in demand for items such as invitations and decorations, as well as other additional items that people usually purchase. As prices continue to increase, more individuals are starting to question the necessity of these items.
Small businesses that cater to weddings are also adapting to new economic changes, just like couples.
Alyssa Young, the owner of Cake Llama, a bakery in San Antonio, launched her business in 2019 with a focus on weddings. However, due to recent circumstances, she has had to expand her offerings.
Alyssa Young, the owner of Cake Llama in Texas, has had to diversify her business away from the wedding industry. "We've had to try other things," she said.
Alyssa Young, the owner of Cake Llama in Texas, has had to diversify her business away from the wedding industry. "We've had to try other things," she said.
Alyssa Young
“Wedding season was fizzling out. Out here, it’s become an oversaturated market,” Young said. “I’m seeing places close overnight. It’s just shocking.”
She saved her business by trying new things. One idea was selling baked goods to coffee shops and offering catering to touring bands in the area.
To adapt to the rising egg prices, she started baking egg-free, vegan recipes. Last January, egg prices had increased by 70% compared to the previous year.
Portland, OR, USA - Feb 2, 2021: 
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Overall, consumer prices have stabilized somewhat, but egg prices increased by 5.8% in February alone, as reported by the latest Consumer Price Index from the Bureau of Labor Statistics.
"Our vegan products are incredibly tasty and very much loved," Young mentioned. She introduced a new product category, all due to the high prices of eggs.
Young doesn't intend to go back to concentrating solely on weddings. She is encountering increased competition from businesses providing more affordable options, such as her nearby grocery store, and even individuals who transformed their baking hobbies into full-time jobs during the pandemic.
Overall, while some couples have been cutting costs for their weddings, they are still holding on to certain traditions and vendors. For instance, even though Burrowes eliminated many extras for her courthouse wedding, she chose to hire a makeup artist and photographer.
“I tried,” she said, “to make it as special as I could.”
Editor's P/S:
The wedding industry has experienced significant shifts in recent years, reflecting changing societal norms and economic pressures. The surge in weddings following the pandemic has subsided, with projections indicating a decline in the number of weddings. This trend is attributed to fewer postponements from the pandemic, as well as generational shifts towards cohabitation over marriage. The increasing costs of weddings have also led to couples questioning the need for elaborate ceremonies and choosing more budget-friendly options, impacting wedding vendors.
Small businesses that cater to weddings have had to adapt to these changes by diversifying their offerings and focusing on providing more affordable options. The rise of competition and the shift towards smaller weddings have forced vendors to innovate and explore new revenue streams. While couples are still holding onto some traditions, they are increasingly scrutinizing their spending and prioritizing vendors that provide essential services. The wedding industry is likely to continue facing challenges as economic conditions and generational trends evolve.
