Wedding Industry Profits Expected to Increase Over Next Five Years
Five wedding industry sub-categories--including florists--expected to grow by 2018
Newport Beach, CA (PRWEB) April 05, 2013--
With wedding expenses having increased even in the face of an economic downturn, Wedding.com says it comes as no surprise that the wedding industry is expected to experience further growth within the next five years.
According to an article on Huffington Post, it is believed that the wedding industry will see a 2.3-percent increase by 2018. The industry is currently standing at $50.6 billion. The following five wedding vendors in particular are expected become more profitable over the next few years: (1) Lingerie, swimwear, and bridal stores; (2) Florists; (3) Catering; (4) Photography; (5) Taxi and limousine services (Source).
Given its ability to withstand recent economic years, it is believed the wedding industry will continue in an upward trend into the foreseeable future, according to Wedding.com. In addition, more consumers have been interested in turning their wedding celebration into a unique experience, often incurring larger costs in the process.
“The average wedding costs more now than before, despite the fact that the overall economy is still not in its most favorable position,” says Brett Reynolds, CEO of Wedding.com. “Even so, the wedding industry has thrived and will continue to do so in the next 10, 20, or 30 years.”
*****
What do you think? Are you seeing signs of this type of increase?
Five wedding industry sub-categories--including florists--expected to grow by 2018
Newport Beach, CA (PRWEB) April 05, 2013--
With wedding expenses having increased even in the face of an economic downturn, Wedding.com says it comes as no surprise that the wedding industry is expected to experience further growth within the next five years.
According to an article on Huffington Post, it is believed that the wedding industry will see a 2.3-percent increase by 2018. The industry is currently standing at $50.6 billion. The following five wedding vendors in particular are expected become more profitable over the next few years: (1) Lingerie, swimwear, and bridal stores; (2) Florists; (3) Catering; (4) Photography; (5) Taxi and limousine services (Source).
Given its ability to withstand recent economic years, it is believed the wedding industry will continue in an upward trend into the foreseeable future, according to Wedding.com. In addition, more consumers have been interested in turning their wedding celebration into a unique experience, often incurring larger costs in the process.
“The average wedding costs more now than before, despite the fact that the overall economy is still not in its most favorable position,” says Brett Reynolds, CEO of Wedding.com. “Even so, the wedding industry has thrived and will continue to do so in the next 10, 20, or 30 years.”
*****
What do you think? Are you seeing signs of this type of increase?