The wedding industry revolves around trends, as almost every couple wants their ceremony to be perfect and stylish. Usually, those trends have the most to do with decoration, venues, and wedding dresses. However, every once in a while, a new development begins disrupting the businesses in the wedding industry.
One of the trends currently on the rise is honeymoon registries. According to The Knot research, 49% of couples who opted for cash registries used the contributions to fund their honeymoon trips. Let’s have a closer look at why more couples are choosing this type of registry:
Weddings in the Current Economy
Extravagant weddings still draw a lot of attention, but they’re also quite expensive. In 2017, the average wedding cost in the U.S. was $33,391, with big spenders going over $100,000 in expenses for their big day. While this statistic seems to imply that the wedding industry is doing great, current economic and lifestyle choices of couples are affecting the wedding business.
More and more couples choose to wait longer before marriage, opting to live together for a time and finish their education. What’s more, the price tag of an average wedding is putting off many couples who are saddled with student debt, car loans, and other more essential expenses. That has led to a drop in the overall marriage rate, which is now slightly over 50%, according to Pew Research. But this change in mentality reflects on more than just the marriage rate – it also has an impact on what couples prefer for their ceremonies and future life together.
Why Couples Opt for Honeymoon Registries
The older generations of America consider cash registries an undesirable practice that smacks of desperation, but the young couples are beginning to disagree. Since many of them live together for years before tying the knot, having a traditional wedding registry loses a lot of its original appeal. If they already have all the household items they need, it becomes more pragmatic to ask for cash gifts to put towards a savings goal — like a great honeymoon destination.
Cash gifts are a common practice in many cultures around the world, and American couples are starting to see why. Marriage has become their last step into adult life. With that in mind, it’s more desirable for couples to spend money on new experiences and celebration of a huge life milestone than to ask their guests for specific household items.
Besides, guests love being able to contribute to making a dream come true for the couple. A honeymoon registry ensures that guests get to give a perfect present, and the couple gets exactly what they want.
In conclusion, Millennials are slowly but surely changing the landscape of the wedding industry and bringing about new trends. Opting for honeymoon registries is what fits the lifestyle of young couples, as well as their wishes for the future, so we can expect to see more of it.