Glitz, Glint, Recessions and Weddings

Toby Hanson finds that the demand for hyper-expensive weddings seems to be changing as the cold recessionary headwinds start to bite. There are signs that many brides and bridegrooms are happily trading down to simpler ceremonies.

In this modern day we appear to be more extravagant than our predecessors, with 20 pieces of luggage not unnecessary for celebrities, £1million pound bonuses and vast payout sums the norm for city high-fliers. Even the head of Network rail and heads of 3 other government companies earn over £1m mark every year from their salaries alone. It seems also that we, here in the UK, do recessions bigger and ‘better’ than anyone else.

Flicking through the archives of the New York Times, I noticed an article titled; “All About Weddings; It’s One Party Even the Recession Can’t Spoil” from June 3rd 1991. Bride’s magazine claimed that the “total wedding market reached $32bn in 1990” , and the average amount being spent on weddings was $19,000, albeit by predominantly middle-upper class patrons.

Fast forward 9 years to January 18th 2002, several months after the September 11th attacks occurred, which created a short-lived recession in the US. At that time Kaufman’s Wedding World was reporting 20-30% increases in sales in many of it’s 19 stores across America, with Americans favouring expensive, traditional weddings.

Now forward oneself to the present day. Reports originating from Ireland initially, but emanating from the UK as well, that many couples who intended to get married (in the 26-34 age bracket) were postponing their wedding or opting for a flowerless, smaller ceremony. The days of one-upmanship are gone, with most brides worrying over the opportunity cost of having more guests rather than their dress.

All this presents the idea that this recession is set to hit harder and last longer than those that have recently come before it.