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Bridal Industry Analysis NAICS CODE: NN006

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Presentation on theme: "Bridal Industry Analysis NAICS CODE: NN006"— Presentation transcript:

1 Bridal Industry Analysis NAICS CODE: NN006
BY: Shaneka Griffin

2 INDUSTRY OVERVIEW The wedding industry has become a growing industry for decades, 2.2 % annually to be exact. According to an article in the Huffington Post, in the United States, there are about 2.5 million people getting married. Also within the industry, it is estimated to be $60 Billion in the U.S.

3 INDUSTRY DEVELOPMENTS
On June 26, 2015, the U.S. Supreme Court ruled that same sex couples have rights to get married according to the U.S. Constitution and for it to be legal in all 50 states. That ruling has truly changed the game of the wedding industry, continuing to grow daily.

4 CONSUMER MARKET DATA The demographics of marriage have changed; people are getting married later in life due to finances or just focusing on their careers. The buying habits of the current U.S couple spends at least $32,641 for their wedding expenses alone and it is rising due to geographical area and New York is leading city with an average of $82,299.

5 COMPETITIVE LANDSCAPE
Trends in the wedding industry includes, planning, creating vision boards on Pinterest and Instagram, and the buying or creating of the wedding gown (thanks to Ebay.com and Etsy.com).


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