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For Richer or Poorer: is the wedding industry recession proof?

The wedding industry traffics in fairy tale fantasies. But the worst recession in decades has brought rude financial awakenings. Some industry insiders are confident; they say thick crinoline and lace will cushion the impact of a plunging economy. They say, for richer or poorer, that fantasy will trump economic reality. Is the wedding industry recession proof?

Sheena Scott was well into planning her summer wedding when the unplanned happened. Most of the wedding purchases had been made when she was laid off from her human resources position at HSBC in Toronto.

“My position was eliminated,” Sheena says. “They don’t tell you it’s because of the recession, but it is. Some of my colleagues were laid off too.” With only four months until the wedding, “there was no chance to turn back,” the bride says. Then she pauses before adding,
“But I don’t think we would have anyway.”

Marriage unites two lives. And weddings unite dozens of vendors and service providers. But the price of precious metals, food staples and crude oil are rising worldwide, driving up consumer costs for potential brides and grooms—things like wedding rings, catering and honeymoon travel expenses. Some have the romantic notion that weddings will prevail in times of economic crisis. Stats Canada suggests that most Canadians do marry. And there is an entourage of industry and media devoted to wedding promotion. The wedding industry isn’t exactly recession proof.
It’s a matter of who's getting married.


Sheena and her fiancé Eric Scott attribute their resilience after Sheena’s layoff to what Eric calls the “ridiculous spreadsheets” keeping track of their wedding budget. The couple has adopted a middle-of-the-road attitude toward wedding planning in general.

“We definitely didn’t go cheap. But we definitely didn’t go extreme, either,” says Eric.
Originally, Sheena and Eric were to marry in the fall, but pushed the date back in order to spread out the spending. “We didn’t want everything to be due at once,” says Sheena.
In retrospect, she says, it was a very good decision.

But that doesn’t mean the couple hasn’t felt the impact in other ways. They’ve come up with some clever, non-traditional, financial maneuvering. To save money on rent, the groom is living with the bride’s parents and the bride will join them soon. Sheena and Eric had previously decided not to live together before marriage. But they’ve made a slight exception to their rule.

The recession means changing priorities for some Canadian couples. Industry insiders and vendors suggest many are downsizing their dream weddings and cutting costs by inviting fewer guests and enlisting their smaller bridal entourage to craft handmade centre pieces, provide amateur photographs or bake homemade cakes. Cindy Johnson of Platinum Events Group says some of her clients aren’t even having cake—that, or they're not eating it. Some guests just don’t eat dessert, so many couples are substituting Styrofoam layers on lower cake tiers to save money, says pastry chef and owner of Rain Barrel Cakes, Michelle Anderson. Dianne Hanko, owner of Play it Again Val, a consignment shop that sells used bridal gowns, has seen an increased demand for pre-owned bridal accessories. "People are being a lot more careful with their money," she says.
           
Bigger budgets are recession proof. Ines Di Santo in Toronto houses original haute couture bridal and evening gowns. Catering to clients with the financial means for expensive taste, the store has seen a recent increase in business. Johnson agrees that budgets at the high end of the spectrum aren’t suffering, but brides already scrimping on spending are feeling the impact of the economy. Lavish venues like the Four Seasons Hotel in Toronto are booked solid, says Johnson. Her more budget-conscious brides, on the other hand, are cutting their guest lists—even after the invitations have been sent. 

A Modest Proposal

“Do I get any more of that cookie?” Steve Cox wonders aloud to his fiancé Sibylle Hartman at Balzac's, their favourite coffee bar in Toronto’s Distillery District. It’s a few paces from the outdoor venue where the couple will be married in October.

“You’ve eaten at least half!” Sibylle chides as she brushes the crumbs from Steve’s sweater. The thing about marriage is, you have to learn to share.

But before marriage, and even before the wedding, there’s the proposal. It’s another expense to consider, and one that Sibylle was vocal about. She didn’t want Steve to spend too much on an engagement ring. So he proposed to her with a Ringolo chip. It was partly her suggestion. She said she’d “kill him” if he spent too much and that she’d be happy with the hollow round corn chip snack. 

“I put a Ringolo in a Tiffany box and gave it to her for our anniversary,” says Steve,
“I wasn’t going to give her the ring until she said yes!”
She did.

Social and cultural pressures can demand a grandstanding of public affection though displays of wealth. Bridal magazines and jewelry ads are fond of such ad hoc financial advice, quoting the percentage of annual income that should be allocated to an engagement ring, usually two or three months’ salary.

“We’re pretty laid back,” says Sibylle. “We weren’t overly concerned with tradition or what everyone else thought. I’ve seen people freak out about napkin colour. But we’re going to do our own thing.”
 
An International Affair

An International Affair

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Wedding budgets: How much would you spend?
Subway fare for two to city hall
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$27,882--the average for U.S. couples
Budget? What budget?
  
pollcode.com free polls

Hey, Mr. DJ! 
Dave Hinton of DJ Central Music Services talks music business. 


Links

Sheena and Eric's Wedding Website

Frugal Bride.com

The Wedding Planners Institute of Canada

Stats Canada on marriage trends

Select cake design from Rain Barrel Cakes

Select photographs featured by
Phillips Photography Studio Inc.

Select flower arrangements from
MW Flower Design



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