Weddings are a $4.31 billion industry in Australia, including all services from ring design to wedding dresses, photography, flowers, car rental, the ceremony and reception. Over the past five years, revenue generated by the industry has fallen at an annualised 0.8% due to slow growth in the number of marriages and weakening demand. The strongest decline in expenditure on weddings was in 2008-09, during the economic downturn. In that year, there were fewer marriages and the average cost of a wedding fell 9.0%. During 2011-12, the average wedding is expected to bring in $36,200, the same amount as in 2005-06.
The Weddings industry covers all aspects of the Australian economy that are involved in the creation of the average wedding. This includes everything from invitations to the wedding dress, cake, rings, transportation and all other features.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.