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IBISWorld Industry Report NN006

September 2015  |  Sally Lerman

Wedding Services in the US

Tying the knot: Wedding-related activity will rebound as postponed nuptials are planned

Industry Definition

This industry is broadly defined to include day-of wedding service providers, apparel retailers and venues. Wedding coordinators are also included because they execute many responsibilities on the day of the event. The industry, however, excludes honeymoon expenses.


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Major Players

There are no major players in this industry


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Main Activities


The Primary activities of this industry are:

Providing wedding coordinating Providing flower arranging
Providing ceremony and reception hosting Providing jewelry design and retailing
Providing wedding catering Providing town car and limousine rental
Providing wedding apparel retailing Providing live or recorded music performances
Providing wedding photography Providing hair and make-up application

The major products and services in this industry are:

Ceremony and reception venues Photography
Food and drink services Flowers
Attire and accessories Coordinators

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Similar Industries

45311 - Florists
This industry provides flower arrangements, greenery and centerpieces for wedding events.

 72232 - Caterers
This industry provides single-event food services. Banquet halls with catering staff are included in this industry.

54192 - Photography
This industry provides photography services for wedding events.

 81211 - Hair & Nail Salons
This industry provides hair and nail services for wedding parties.

72111 - Hotels & Motels
This industry's establishments are common locations for marriage ceremonies and receptions; some operators also provide in-house catering.

 
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Additional Resources

www.aacwp.org
American Association of Certified Wedding Planners

 www.wipa.org
Wedding Industry Professionals Association

www.internationalcaterers.org
International Caterers Association

 www.weddingceremony.org
WeddingCeremony.org

adja.org
American Disc Jockey Association

 
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Industry Jargon


DESTINATION WEDDING
A marriage ceremony or reception 200 or more miles away from where the couple lives and at least 80.0% of guests require overnight accommodations.

DO-IT-YOURSELF (DIY)
A category of customers who complete tasks and projects on their own that would generally be outsourced to a business or service provider.

OFFICIANT
An officiating priest or minister.

WEDDING VENDOR
A company that provides services on the day of the marriage ceremony or reception.

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Glossary


BARRIERS TO ENTRY
High barriers to entry mean that new companies struggle to enter an industry, while low barriers mean it is easy for new companies to enter an industry.

CAPITAL INTENSITY
Compares the amount of money spent on capital (plant, machinery and equipment) with that spent on labor. IBISWorld uses the ratio of depreciation to wages as a proxy for capital intensity. High capital intensity is more than $0.333 of capital to $1 of labor; medium is $0.125 to $0.333 of capital to $1 of labor; low is less than $0.125 of capital for every $1 of labor.

CONSTANT PRICES
The dollar figures in the Key Statistics table, including forecasts, are adjusted for inflation using the current year (i.e. year published) as the base year. This removes the impact of changes in the purchasing power of the dollar, leaving only the "real" growth or decline in industry metrics. The inflation adjustments in IBISWorld’s reports are made using the US Bureau of Economic Analysis’ implicit GDP price deflator.

DOMESTIC DEMAND
Spending on industry goods and services within the United States, regardless of their country of origin. It is derived by adding imports to industry revenue, and then subtracting exports.

EMPLOYMENT
The number of permanent, part-time, temporary and seasonal employees, working proprietors, partners, managers and executives within the industry.

ENTERPRISE
A division that is separately managed and keeps management accounts. Each enterprise consists of one or more establishments that are under common ownership or control.

ESTABLISHMENT
The smallest type of accounting unit within an enterprise, an establishment is a single physical location where business is conducted or where services or industrial operations are performed. Multiple establishments under common control make up an enterprise.

EXPORTS
Total value of industry goods and services sold by US companies to customers abroad.

IMPORTS
Total value of industry goods and services brought in from foreign countries to be sold in the United States.

INDUSTRY CONCENTRATION
An indicator of the dominance of the top four players in an industry. Concentration is considered high if the top players account for more than 70% of industry revenue. Medium is 40% to 70% of industry revenue. Low is less than 40%.

INDUSTRY REVENUE
The total sales of industry goods and services (exclusive of excise and sales tax); subsidies on production; all other operating income from outside the firm (such as commission income, repair and service income, and rent, leasing and hiring income); and capital work done by rental or lease. Receipts from interest royalties, dividends and the sale of fixed tangible assets are excluded.

INDUSTRY VALUE ADDED (IVA)
The market value of goods and services produced by the industry minus the cost of goods and services used in production. IVA is also described as the industry's contribution to GDP, or profit plus wages and depreciation.

INTERNATIONAL TRADE
The level of international trade is determined by ratios of exports to revenue and imports to domestic demand. For exports/revenue: low is less than 5%, medium is 5% to 20%, and high is more than 20%. Imports/domestic demand: low is less than 5%, medium is 5% to 35%, and high is more than 35%.

LIFE CYCLE
All industries go through periods of growth, maturity and decline. IBISWorld determines an industry's life cycle by considering its growth rate (measured by IVA) compared with GDP; the growth rate of the number of establishments; the amount of change the industry's products are undergoing; the rate of technological change; and the level of customer acceptance of industry products and services.

NONEMPLOYING ESTABLISHMENT
Businesses with no paid employment or payroll, also known as nonemployers. These are mostly set up by self-employed individuals.

PROFIT
IBISWorld uses earnings before interest and tax (EBIT) as an indicator of a company’s profitability. It is calculated as revenue minus expenses, excluding interest and tax.

VOLATILITY
The level of volatility is determined by averaging the absolute change in revenue in each of the past five years. Volatility levels: very high is more than ±20%; high volatility is ±10% to ±20%; moderate volatility is ±3% to ±10%; and low volatility is less than ±3%.

WAGES
The gross total wages and salaries of all employees in the industry. The cost of benefits is also included in this figure.


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Industry at a Glance >