Here comes the bride ... and she rented her gown
According to industry research from IBISWorld, spending on rented bridal gowns is expected to grow 7.5 percent to $43 million, up from $40 million in 2008.
At the same time, wedding gown sales are expected to decrease 2.8 percent this year, reaching just $973 million. The decline is considerable, but not as steep as the 4.2 percent drop experienced in 2008. Interestingly, the industry has seen declines since 2001.
According to research, other wedding statistics are slipping, too. Compared to 2008, the amount spent on wedding planners is expected to drop 4.2 percent to $785 million this year. And the average cost of a wedding is expected to drop 8 percent in 2009 to just $20,000; in 2007, the average was $30,000.
“The recession is expected to exacerbate the already decliing marriage rate, as couples put off the big day until the time is right financially,” said Toon van Beeck, senior analyst with IBISWorld. “Spending will undoubtedly be impacted by such postponements, and these cost-cutting measures will start from the purchase of an engagement ring all the way to the end of the honeymoon.”
Message Sent Successfully
Be Sure to Check Out Our Top Headlines
- 13758Oklahoma tornadoes: The 'Big Dog,' the little boy and the hug that triumphs over tragedy
- 9630Finding Addyson – One family's struggle in the Moore tornado
- 9095Oklahoma tornadoes: Cost, custom keep basements scarce
- 8238Oklahoma tornadoes: Plaza Towers Elementary School teacher shoved students into bathroom as wall collapsed
- 6533Miranda Lambert, Reba McEntire, Vince Gill to join Blake Shelton at "Healing in the Heartland" Oklahoma tornado benefit
- 6005Oklahoma tornadoes: Woman meets the military officer who shared the clothes off his back
- 5369Story behind the photo: Family members describe desperate search for one another after EF5 twister
- 4740Oklahoma tornadoes: Sooners bring back some smiles to Sydney Angle's teammates
- 4592Oklahoma tornadoes: Thunder reverses the role, takes a turn at cheering on the community
- 4132Oklahoma tornadoes: 27 remain hospitalized from tornadoes
Back to share with a friend form.
Add More Recipients