Here’s How Savvy Brides are Cutting Deals for Big Budget Weddings
This story from Wall Street Cheat Sheet
Weddings are big business. With a $20,000 average spent per wedding, everyone’s looking for their piece of the pie.
So how are companies gaining the edge over other potential vendors for the big day? Cutting a deal with the bride.
Let’s face it – the average individual looking to blow five figures in a matter of only a few fun-filled hours is going to find every way possible to save a few dollars anywhere they can. Businesses are starting to tune in to this fact and are finding ways to cut costs for wedding planners and brides to be.
David’s Bridal is launching a new line of wedding dresses in collaboration with Vera Wang called White by Vera Wang that will be in stores the beginning of February. With the line costing no more than $1500, now nearly every bride can walk down the aisle in a gown with a high-end designer name on the label.
The Knot (NASDAQ:KNOT), the go to website and magazine for potential brides who are looking for advice on all things wedding, has recently begun offering its subscribers special discounts on products ranging from wedding day photography to wedding planners based on the geographical location of their wedding.
Blue Nile (NASDAQ:NILE) has even found a way to get grooms in on the act by offering engagement rings starting for less than $300.
Macy’s (NYSE:M) has also found a way to get in on the deal by offering engaged couples special events where they can register for gifts while sipping champagne and nibbling on hors d’oeuvres. Couples even receive rewards for receiving gifts off their registry, along with a rewards card after the big day.
Other companies are trickling in and figuring out that offering a discount on anything wedding related can lead to big bucks. If they can follow similar models already proving to be highly lucrative for the companies listed above, then everyone should soon be celebrating when the words “I do” are finally spoken.
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