And compare this with last year, 2009:
Here are a few observations:
- A 5% drop in the Venue & Catering category (significant)
- A 3% increase in Honeymoon spending (are couples spending a bit more on themselves?)
- A very slight 1% increase in the Photography & Video category
Keep in mind that these are % of the total spend, and do not reflect the actual dollars spent. If anyone has some insight into those figures, please share. In the meantime I will try to find some statistics on that.
Overall, of course, the categories remained fairly similiar.
Photographers: Have you noticed any changes in spending over the last couple years? Have you had to adjust your prices, offer “recession specials,” and other similar changes in your business model? Does value trump price considerations for most couples?
For those who got married in the last couple years or are currently planning their wedding: Have you noticed more price competition among vendors? Discounts, specials, more emphasis on value?