The most current Wedding Industry Covid-19 Guidance is available here:
Based on survey results from both couples getting married and businesses, here is what the market looks like as of 8/3/2020 for 2020 and into 2021 and 2022. This is based on 709 (3/2020) and 870 (6/2020) survey results from couples and 421 (3/2020) and 693 (6/2020) survey results from wedding vendors. These results were collected from 3/28/2020 to 4/7/2020 and from 6/16/2020 to 6/30/2020
As it stands today, I think we will likely lose 49% of weddings in 2020 but gain a surge of weddings in 2021 of about 30% Just from the number of weddings alone, a 49% loss in weddings will represent 1.1 million weddings. Spending will be reduced in both budget and guest count reductions. 2020 average spending will be about $19.9k, down 20% from 2019 spending of $24.7k, resulting in a total market of only $22 billion, a loss of $30 billion from the 2019 total of $52.5 billion.
2021 will see a surge of 650k weddings, bringing the total 2021 number of weddings to 2.77 million versus a normal year of about 2.12 million. Again, spending will be reduced in both budget and guest counts. 2021 average spending will be about $21.6k, resulting in a total market of $60 billion.
The resulting loss over 2 years will be about $23 billion, a huge blow to the industry.
We also believe that 2022 will see a slight surge of about 50k weddings, carry over from 2020 postponements and spending will not return to 2019 levels until about 2024.
All markets have been updated to reflect Covid-19 impact. For local 2020+ numbers a single report or membership purchase is required. Local market numbers also use data from the Census Small Business Pulse Survey and BLS employment data to help determine local impact.
255 N. Rosemont Blvd. #14161
Tucson, Arizona 85732