It’s a Nice Day for a Budget Wedding

Last week we took a look at how Millennials are approaching the wedding years—and how they could change the traditions of the big white celebration. Our infographic revealed that 60% say planning a wedding is too much work, and 45% say weddings today aren’t as important as they used to be. The rise of the big-budget wedding over the last few decades has made wedding planning, and major nuptial splurging a well-publicized part of Millennials formative years, and it looks like they might not be buying into the hype when it comes to planning their big day. 62% agree that weddings have become too big73% say they would rather have a small inexpensive wedding than a big expensive wedding, and a whopping 83% say that weddings today have become too expensive. It’s no wonder: In 2012, the average cost of a wedding rose to over $28,000—a hefty amount for a generation suffering from student debt and low employment, especially when 46% of them say that the couple paying for the wedding themselves is in style. The recession has made this group at least temporarily, if not permanently, budget-conscious. Though weddings won’t stop being big business anytime soon, a growing segment of young future brides and grooms are looking to more wallet-friendly options for their celebrations, and smart tuned-in brands are starting to respond. Here are some of the affordable wedding options that Millennials are beginning to tap into, from engagement to reception. 

THE RING

Fast Company  has called the traditional three-months’ salary engagement ring “a prehistoric idea“ for Millennials, who put more emphasis on having luxury experiences than owning luxury goods. Qualitatively, we see that more Millennials are turning towards vintage rings to cut costs. Another developing trend is the understated engagement…

 
 
Ask Millennials some questions.
Log in to get started...

Want to talk to us about the article
or dive into a custom study?


Millennial News Feed

Quote of the Day: “I use cloth diapers, and a lot of my coworkers don't quite understand this. They aren't condescending, per say, but I do think that they judge my less mainstream parenting style. Also, several of my online mommy Facebook groups can be VERY judgy.” –Female, 26, IL

‘90s kids (older Millennials) remember many products from the decade that have now sadly passed out of their lives. But some of their undying nostalgia is being rewarded: Coca Cola has brought back their lemon lime flavored soda Surge thanks in part to a Facebook group called “The Surge Movement.” The soda is being sold exclusively through Amazon, and the first batch sold out in about an hour. (The Verge)

GIFs are invading marketing, and the medium is now seeping into mobile communication. Popkey is essentially a GIF keyboard for the new Apple operating system. The app allows users to search for appropriate reaction GIFs without leaving their chats, save frequently used GIFs, or select from popular featured files. The tool could appeal to young consumers who are more interested in communicating via images than text. (TechCrunch)

Millennials’ reputation for not caring about cars might not be the whole story, and we’ve heard that having a car actually is important to them—if brands can create cars they want. Toyota is imagining what that car would look like with their concept the U^2, a “city car” for Millennials, or in their words, the “entrepreneurial, urban driver.” The imagined car is customizable, with a removable front seat, an iPad central console, and a tailgate that can turn into a ramp. Though Toyota isn’t likely to produce the U^2, it is possible that some of its features will be integrated into upcoming models. (Wired)

Despite the fact that the platform is technically ad-free, brands have infiltrated Vine, and its “Vine famous” stars now regularly team with companies for creative advertising. The young social media savvy players—each with millions of followers—are also becoming involved in more traditional media: Brittany Furlan has landed a sketch comedy show deal, Nash Grier is working on a film career, and Shawn Mendes’ record topped the iTunes charts. (Adweek)

Financial services are not appealing to Millennials, and the disconnect between the industry and the generation isn’t likely to be solved by reaching out to these young consumers on the platforms they frequent. A recent global study found that less than 1% of Millennials want financial service providers to contact them through social media, and 59% believe they haven’t seen financial products that are targeted at “people like them.” (CNN)

Looking for a quick Millennial stat to get you up to speed before a strategy session? Searching Ypulse is the best place to start! Silver and Gold members have access to 10,000+ articles, 20,000+ curated Millennial news items, 2 billion peer-generated opinions from our mobile, social Q&A network, and thousands of statistics on Millennials drawn from our bi-weekly national survey of the generation. Your search can begin and end with us. (Ypulse)

Sign Up Now

Subscribe for premium access to our content, data, and tools.

Already a subscriber? Sign in.

Upgrade Now

Upgrade for full access to the best marketing tools for understanding the next generation.

View our Client Case Studies