The Week of December 3rd in Review

By Paul Pannone

Top newZ for the week of December 3rd, 2012, involved the continued changes at David’s Bridal. eWedNewz reported that CEO, COO and president, Robert Huth, plans to depart the company in early 2013. Sources told eWedNewz the wedding business can expect more changes at David’s Bridal, including an upgrade to customer service with a smile and a better level of products. Social Media is also reported to be a top point of focus at David’s and a reason for Huth’s departure.

The wedding industry lost one of its pillar members this week; Edythe Piccione, Co-Founder of Alfred Angelo passed away.

The ongoing story about website piracy in the wedding business continues to take twists and turns, as less than credible information makes its way to the public on the internet. eWedNewz is asking some hard questions to the people at ABPIA, prompted by new information we’re receiving.

Consumers looking for information about bridal gown purchases shows they do their legwork online before shopping for products and way before they ever enter a bridal salon. Millions of consumer shoppers drive stories containing the information higher than tens of thousands of wedding business owners reading industry newZ.

 

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2012

New Editor of Get Married Departs from the Usual Assholes of Taylor and old Format

 

By Paul Pannone

In a fresh start and what could really be a new approach for the re-launched Get Married website continued this week, as Heather Dempsey replied to an email thanking her for being open about the new endeavor.

 

The girl next door look of Heather Dempsey replaces the false smiles, underhanded treachery and maliciousness of her predecessors. The assholes at the Taylor Group get the credit for finding and implementing Heather and her style.

 

Invited to make a statement to eWedNewz readers, Heather had the following to say:

“….thank you for the inquiry. We are very excited about how well the new site has been received since it’s relaunch only a couple weeks ago.

We are in a world with inspiration at our fingertips with the internet, Pinterest, tumblr, stylecaster, etc…and GetMarried wants to help brides, planners and wedding geeks find the “good stuff. I have a passion for finding and sharing so that all things are accessible…especially when planning the most celebrated day of your life. The site inspires you to go and do the things you want for your big day – or any other occasion. GetMarried is a place where inspiration meets celebration and becomes you!

I want it to be a favorite place for readers to stop by and see what’s trending, fresh and from a different point of view for weddings and lifestyle. I am also looking to receive submissions for real wedding, engagements, products and inspiration – and so far, the interest has been better anticipated out of the gates,” according to Dempsey.

 

But wedding planners and disgruntled advertisers say they’re not soon taken in by a pretty face and charm so-far exuded by the revamp. Some following the story notice third-rate advertisers on the website and no big names on board so-far.

 

What do you say? Are you buying the “new” Get Married launch?

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2012

The Week of January 30th in Review

 

 

By Paul Pannone

The Week of the Big Game had many people distracted from normal business functions putting off for next week what thy didn’t want to get into this week. Top stories carried over from last week propelled by celebrity power and consumers reading the stories.

The top story again this week talks about the changing consumer that shops Abercrombie & Fitch to JC Penny and everything in between.

 

New marketing promotions released this week drives traffic into stores in search of products.

 

Tied into the story new marketing that creates greater demand than the physical ability to meet the demand continues to be of interest to readers.

The Wedding Water Cooler made newZ this week dismissing a regurgitated wedding report that mirrored Punxsutawney Phil seeing his shadow forecasting another six weeks of winter. The Water Cooler looks at real-time information and determines the wedding business is on an upswing. Members of the Cooler dismissed surveys, data and past information set to some mystical algorithm to decide the future. Cooler members caution an overenthusiastic reaction to the newZ but said people who approach business in a serious and realistic way won’t be disappointed.

 

 

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2012

Rising Wedding Activity Causes Businesses to Upgrade their Marketing

 

By Paul Pannone

An ongoing eWedNewz poll shows 41% of respondents say they’re upgrading marketing to meet the demand of rising wedding business. Since 2008 the decline in wedding business forced many businesses of all sizes to fold and combine. The decline perished the weakest but left those that are able to reinvent and revamp systems to efficiently service their customer. Now the time has come for the winners to cash in on the rising numbers.

Members of the  Wedding Water Cooler say there is a growing amount of positive wedding activity and better days on the horizon. The newZ comes as a welcomed breath of fresh air after years of decline and woe-telling.

 

The Wedding Business is directly tied to the economic factors– just like everything else. Is it time to celebrate? Probably not. But we’re not in the seep decline we were in 2008-2009.

Wedding Analyst, Christine Boulton of Think Like a Bride, posted a story about the rebirth; a renaissance she feels is finally happening. Cautiously– and definitely not like it was before the bubble burst in 2008– Boulton gives what she feels is a ray of hope to a beleaguered industry.

“What I am trying to say here is that I firmly believe we have turned a corner.  Maybe it hasn’t trickled down to everyone yet, but it will.

No, it isn’t rockin’ at the rate it was before the bubble burst, but it is on the upswing for the first time in years. There is hope, there is a glass half full attitude,” writes Boulton.

Boulton and others in the WWC say they’re hearing the same. Encouraging poll numbers so far show the same, as business owners update their ad-marketing campaigns and invest in their businesses. But, like Boulton suggests, the game has changed.

An ongoing eWedNewz investigation shows most businesses that lost confidence in wedding websites are investing in their own, in-house advertising and marketing. The failure of Get Married is often mentioned in discussions and could be the last straw of business owners expending dollars into third-party website advertising.

So besides in-house, where does a business owner invest advertising and marketing money? eWedNewz is watching several new concepts bring developed but so far nothing is worth mentioning. Passionate wedding industry personalities that claim to have the answers simply do not.

So far the safest haven for investing remains in self-promoting your business to local customers.

Are you revamping your business? Take the poll.

 

 

 

 

 

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2012

Flawed Data Discussion Continues

 

By Paul Pannone

Discrepancies of information prove chosing reliable data for your business is imperative. We questioned cited data provided by IBISWorld used in a story by TheStreet.com claiming that Men’s Wearhouse rents one out of every two tuxedos in the US market. The result was a  re-examination of the data provided and a clarifying statement. 

Nikoleta Panteva of IBISWorld told eWedNewz,” According to the Men’s Wearhouse annual report released on March 30, 2011, their revenue for the tuxedo rental business was $364.3 million in 2010, up 9% from the $334.1 million in 2009 (page 48 of attached company 10-K report). I stand corrected on my earlier numbers, where I looked at the incorrect data. Nevertheless, while the company (and its tuxedo rental business) has grown, the industry overall has declined from $769.3 million in 2007 (in constant 2010 dollars) to $759.4 million in 2011 (see IBISWorld report attached). These numbers are based on US Economic Census data. Therefore, the Men’s Wearhouse accounts for about 50% of the industry:  $364.3m/$736.1m = 49.5% (Men’s Wearhouse and Tux 2010 revenue, divided by industry 2010 revenue). It is very likely that the Men’s Wearhouse rents one out of every three tuxedos, but accounts for 50% of revenue as the company may be charging a price premium above that of the average rental store. Smaller operators typically have to offer lower prices in order to effectively compete against well-known brands such as the Men’s Wearhouse. What the numbers indicate is that the Men’s Wearhouse accounts for 50% of the industry’s revenue, regardless of what percentage of tuxedos they rent out. It is a matter of revenue (quantity x price) versus tuxedos (quantity alone). Additionally, the quote from the company’s earnings call states that their “estimates indicate that [they] rent in excess of one out of every three tuxedos in the United States” which does not commit them to 33%, but leaves room for a higher share of total tuxedos rented. Please see our industry report and the company’s most recent annual report, attached, for reference.”

eWedNewz discussed the reply with multiple adjunct sources to the men’s formal wear group including financial, ex and current CEOs of manufacturing, advertising, wedding analysts, including other sources of wedding information. In subsequent discussions formal wear experts questioned the data further saying, “The report is partly correct but leaves much to be desired. For instance, how can they give a snapshot view of the men’s formal wear rental business without including its manufacturers and largest buyers like Jim’s formal wear? Did they interview Savvi, or Al’s formal wear, etc?” Most disagree that Men’s Wearhouse has captured 50% of the market, no matter how the numbers are sliced and diced.

When updating this story we searched for the original story by TheStreet citing the faulty data by IBISWorld but the story seems to have disappeared.

eWedNewz continues to question validity of data wanting to know how sources arrive at numbers. Sources that claim to have mystical potions unique only to them are suspect, as a growing number of wedding experts say data is reflective of who is gathering the data and who analyzes the findings.

eWedNewz welcomes your thoughts. Post them to this article or, if you prefer, email or call Paul@ewednewz.com – 516-312-0090.

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2011