Let’s have a look at some numbers. Just American weddings are a $51 billion dollar industry that employs nearly 800,000 people.
According to a recent study by The Wedding Report, 270.000 or 13% of all American couples each year cancel their wedding. Keep in mind that the average wedding cost is around $25,656, so for those couples who decided to not take the walk down the aisle, this can be a huge loss.
Another study shows that the biggest expense of a wedding is the reception generating an estimated 38 % of the total wedding industry revenue. Major costs associated with the reception include venue rental and catering, where also the strongest cancellation policies with cancellation fees are in place.
The Real Wedding Survey organized by The Knot and also our own experience shows that some brides are even starting to plan their wedding before their guy actually pops the question. Brides are now allowing themselves more time to plan, with 31% beginning to plan more than 12 months ahead and 16% of brides now plan their wedding even before getting engaged.
This study also shows that 24 % of all American weddings account to destination weddings when couples decide to get married abroad and travel to say their “Yes, I do”.
These are just numbers for the US wedding market, if you add the size of the wedding market in Canada, UK, Ireland, Australia, New Zealand and India you get the secondary market size where our team of Canceled Weddings operates.
And hey, we just opened AbgesagteHochzeiten.de which is our German version of CanceledWeddings.com.
This is a pretty serious slice of market, which we and our Group are very serious about.