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Brides.com 2009 American Wedding Survey Reveals: Popping the Question has Popped in Price

February 23, 2009

43% Increase In Average Cost Of Engagement Rings Since 2006

Balancing the Budget – Average Cost of Weddings See Less Than 1% Rise Over 2006 Price Tag Typical Cost of Wedding Rings Drop

NEW YORK, Feb. 23 /PRNewswire/ — Brides.com (http://www.brides.com), Conde Nast’s premier bridal destination, today released findings from its 2009 American Wedding Study, unveiling the current state of saying “I do.” With growing concerns about the economy, one of the study’s surprises is a dramatic increase in the average cost of an engagement ring, with the typical price climbing to $6,348 – a 43 percent rise over 2006′s average of $4,435.

“Clearly, the sparkle — and value — of diamonds has captured the attention and wallets of couples who are keen on making a significant investment when it comes to engagement rings,” said Michelle Preli, Brides.com editor-in-chief.

However, with the majority of couples (82%) setting a budget prior to the wedding and half of brides-to-be (51%) taking the additional step of spending time researching financing for “the big day,” certain checks and balances are being made. According to the survey, the average price of a wedding is virtually unchanged over 2006 costs, seeing less than a 1 percent increase ($28,082 vs. $27,852).

In addition, in comparison to the upswing in cost for engagement rings, wedding rings have taken a dip in average price, with the typical duo of bands costing $1,575, a 24 percent decrease from the 2006 cost ($2,079). Still, for those who said they were purchasing all three rings together — engagement and two wedding bands, the average combined cost currently totals $6,835, marking a 12 percent increase over the 2006 average price of purchasing all three together ($6,085).

When it comes to a bride-to-be’s number one most researched item on her wedding to-do list — the wedding gown — an eye is being kept on cost as well, with gown price tags increasing by little less than 2 percent over 2006 ($1,075 vs. $1,056). Still, the majority of brides (86%) refuse to give up the cherished tradition of wearing something old, something new, something borrowed and something blue, when they take the walk down the aisle.

In terms of other budget considerations, the survey found that more than half of engaged women (58%) expect to use a credit card to help pay for wedding expenses. Payment of the wedding is a combined effort for the most part. Not many single parties are exclusively paying for this wedding. Nearly one in five (19%) of bride’s parents are paying for the wedding outright, while 8 percent of brides are footing the entire bill by themselves.

“A wedding is one of the most treasured celebrations in a couples’ life, so it’s no surprise that certain costs haven’t seen a major decrease. But, that said, it is good to see brides and grooms keeping their eye on budgets too, since this special day marks the beginning of a building a lifetime together,” added Preli.

The release of the 2009 Brides.com American Wedding Study represents Conde Nast’s continued commitment to being a vital source for news and views on bridal trends. The study has been a focus of the publisher’s efforts in the space since 1990.

*More of the study’s findings are available, upon request.

Methodology

Brides.com respondents were women ages 18+; not employed in bridal industry; and, either engaged or just married (wedding date within past year). Brides.com respondents were surveyed between October 20 – November 10, 2008. A total of 3,946 qualified surveys were evaluated. The margin of error is +/-1.6%.

About Brides.com

Brides.com is a premier bridal destination site, with more than 1.5 million unique users every month and 30 percent year-over-year growth in traffic. Brides.com’s dedicated editorial team creates original content, develops interactive tools, cultivates an engaged community and provides an array of beautiful imagery and video to empower the bride throughout her wedding-planning process. Brides.com commands a superior market position by aggregating content from three national magazines-Brides, Modern Bride, Elegant Bride – and 16 local bridal magazines.

SOURCE Brides.com


Source: newswire



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