Wedding Boom Ends as High Costs and Shifting Priorities Lead to Forecasted Decline

Lavish, expensive weddings peaked after pandemic, but now engaged couples are cutting back due to high inflation and economic uncertainty
Number of US weddings hit 25-year high in 2022, but expected to drop nearly 17% in coming years
Pent-up demand from pandemic postponments/cancellations drove recent wedding boom, but that demand is fading
Generational shifts, with younger generations less focused on marriage, point to long-term declines
As demand drops, wedding vendors diversifying offerings and getting creative with lower-cost alternatives