Weddings are big business again after the COVID-19 pandemic, and the bride is splurging thousands on her gown after the down years of casual backyard parties and uncertainty. It’s the kind of economic optimism President Joe Biden is trying to bottle and sell to the American public in a presidential election year that, for many voters, hinges on how they view the economy. Numbers look good but the view from bridal shops is mixed.
It looks like brides are spending more on wedding dresses, yet brides and bridal stores are facing an uncertain – and uneven – economy. Bridal stores are small businesses in the U.S. There are more than 5,500 independent stores nationwide, according to an IBISWorld market analysis.
There are bright spots in the industry: weddings have bounced back to pre-pandemic levels, helping boost sales of bridal wear. In the five years through 2023, “growth in per capita disposable income and consumer spending encouraged more brides and grooms to splurge on high-value wedding goods,” according to the report.
But the falling marriage rate and decline in weddings during the pandemic depressed bridal store industry revenue over the past five years. The country’s one national chain, David’s Bridal, is working through a painful bankruptcy, and the company’s plan for recovery is to emulate the sort of personalized experience we see on “Say Yes to the Dress”.
Now brides are spending more on their dresses, in part because of inflation. U.S. brides spent an average of $2,000 on their gown in 2023, up from $1,631 in 2018, according to the annual The Knot Real Weddings Survey.
According to another The Knot Survey, along with the costs of wedding dresses also the average number of wedding guests has increased. The average size in 2022 was 117—an increase trending back toward pre-pandemic levels—and the average wedding size in December 2023 of 115 shows that the trend is still holding strong. In 2021, guest lists averaged 105. And in 2020, the average guest count was only 66.
And although the pandemic was much less of a consideration in 2023, some couples are still opting to trim their guest lists—instead to help mitigate rising costs from inflation. At present, guest lists are certainly back in a robust way and holding strong!
