By Paul Pannone
It’s long been thought the wedding business was recession-proof but the last three-years shows its health is directly tied to the economy. The sale of engagement rings tracked by eWedNewz in 2008 helped forecast the sudden drop in weddings through 2009, 2010 and partial rebound in 2011. But new information points to another dip ahead for the economy and more probable difficulties for the wedding business.
eWNz asked wedding experts in the Wedding Water Cooler discussion group how they felt about the news. Most agree the negative news will not bode well with most wedding vendors but nearly all said reporting should show a proper balance of information and reality.
Celebrity Planner Samantha Goldberg told eWNz, “I think you share the good, you share the bad. Too much bad (reporting) can make the average contributor fall deeper with the thoughts of this business tanking– which it is not,” according to Goldberg. Samantha shares her thoughts with other planners and experts in the grip, keeping an upbeat point of view.
Planner Sandra Aaron adds, ” I agree, you need to share both the good and the bad. To much negativity can contribute to making things worse because of the types of thoughts Samantha mentions; but on the opposite end, too much false encouragement can give people a rosy fairytale outlook that is a bit beyond reality regardless of how good things are. The fact is that when we’re dealing with business, so we need to think like business people. That means looking at the facts and drawing our conclusions based on level-headed decision making, not pie in the sky or down in the dumps thinking.”
Planner Diana Freeland says, “I do agree with everyone; both sides of the coin needs to be shared. The wedding industry is just that — an industry — so there will be peak periods and low periods. No matter what happens, the industry will continue to be a multi-billion dollar one. That is evident by everyone wanting to cash in on it.”
Wedding analyst, Christine Boulton, continues to encourage reform, warning wedding vendors to make the necessary changes and adjust to the market. “ For some, it will help tremendously to know they are not alone. What is needed is some serious tools to deal with the changing landscape of bridal. I don’t just mean social media. I mean how to sell to an ever changing market. How to redesign not only your business but your approach,” says Boulton.
Experts in the Wedding Water Cooler discussion group share their thoughts and views on everything associated with the wedding business.
Part of the undertaking of the Wedding Water Cooler discussion group currently focuses on the changing role of the groom. Collective projects say the male portion of wedding plans represent an untapped market. Discussion members say even though the current economic news isn’t encouraging, identifying and leveraging new and untapped markets could boost sales and make up any shortfalls in the months and years ahead.
To be considered as a member in the group, contact me at 516-312-0090 or Paul@ewednewz.com
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