By Paul Pannone
For various reasons including lack of style innovation and a reason for retailers to update inventory, tuxedo rentals have continued to fall out of favor among a new generation of consumers. Adding to the decline are less formal wedding events and greater acceptance of using regular suits by the groom and his ushers.
Internet searches for Vera Wang Tuxedos raised awareness for tuxedo rentals in 2012.
According to a recent survey from Bridal Guide Magazine only 67.9% of respondents said the groom and men in the wedding party would be wearing tuxedos. Of those, 85% said they would be renting, while 15% said they would buy their formal wear; up significantly from 2009 when other data sources said 8% would buy.
Since 2001 the tuxedo rental business has continued to decline. In 2000 there were four major clothing suppliers, three accessory companies, three shirt companies, three plastic shoe suppliers and over 9,000 retailers. Today there are barely three tuxedo-makers; no significant accessory makers. The industry struggles for shirts and shoes. There are far less true tuxedo specialists left and more departing every year.
In the past 18 months there’s been some style innovation and brand expansion including the use of celebrity followers and recognized dress designer names. eWedNewz is watching several other innovative moves in advertising and marketing to help jump-start interest at the consumer level. We will report the findings later this year.
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