Must Read | Promotional Products Work Win TheWedding Market Want to capture hearts, increase bookings or make wedding guests swoon? Say yes to custom-branded products. by Audrey Sellers LAST YEARWAS A BANNER YEAR for brides and grooms. More than 2.5 million couples tied the knot – the most since 1984 – leading The NewYork Times to call 2022 “The Year of theWedding.” This year is also looking up for lovebirds, as couples finally get to book the venues and vendors that were unavailable in previous years. Dates in 2023 and 2024 are booking 35-45% faster than pre-pandemic levels. But before they say “I do,” engaged couples have to put in the work for the perfect big day. After all, those deconstructed floral arches aren’t going to build themselves. Research fromMinted reveals that to-be-wed individuals log 528 hours – or 22 full days – of planning. Most couples are both excited (68%) and happy (53%) to be sharing ideas and meeting with caterers and florists, although 46% admit the process can be stressful. The Wedding Report projects more than 2 million weddings this year, with couples spending an average of nearly $25,000 for the joyous occasion. The biggest expense? Wedding venues, coming in at an average of about $13,000. Other big costs for couples include the engagement ring, reception band or DJ, photographer and florist. Brides also spend an average of $1,000 on their dress plus an additional $250 or so for hair and makeup. The bride and her betrothed aren’t the only ones spending money. Wedding guests last year spent an average of $460 to attend, according to The Knot, with those who attended an out-of-town wedding investing an average of $1,270. It’s easy to see how the wedding industry is a multibillion-dollar industry and growing. In 2022, weddings generated nearly $60 billion in revenue. No matter the size or location of the wedding, branded products can add a meaningful and personal touch. Couples can use them to add personality to their favors or attendant gifts. Businesses like wedding consultancies, caterers, limousine companies and others can use logoed items to congratulate the newlyweds. And those who were especially close to the bride and groom, like the officiant or wedding coordinator, can use personalized gifts to wish the couple well as they start their new life together. Marius Dragne / Alexander_DG / Shutterstock.com 54 • JANUARY 2023 • PPAI
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