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…

 
 
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Millennial News Feed

Quote of the day: “I’m single and I’m okay with it.” –Female, 15, MA

Ypulse’s January monthly survey found that 55% of 13-32-year-olds say that the one tech device they cannot live without is their smartphone, and that makes dying batteries a major issue for mobile-dependent young consumers. As app usage increases, battery life quickly decreases—but a new solution to the perpetually dying phone battery is here. Ikea has announced a line of tables, desks, and lamps that will be able to wirelessly charge some mobile devices—simply place a phone on the surface and it begins to fuel up. The furniture is due to hit European and North American stores in April. We expect the design of products and spaces will likely continue to shift to accommodate smartphone addictions. (Wall Street JournalRefinery29)

Who knew a tweet could be worth so much? The marketing power of social media users could be validated by a new study that reports a single tweet, when sent out one to five weeks before a film’s release, can add $560 to a movie’s opening weekend box office numbers. Catchy tweets illustrating intentions to see the movie or encouraging others to watch are worth $4,420 four weeks before the movie’s release. More than 30 million people reportedly tweet about movies each month, and this could be valuable information as Hollywood struggles at a time when there are increasingly more entertainment options for young consumers. (MediaPost)

A recently released study on young consumers and cars claims that “once Millennials gain spending power, the auto industry is going to be turned upside down.” A reported 47% of Millennials believe that cars, and which brand of car they own, really matter. The findings contradict the common perception that young consumers don’t care about cars and are choosing ride-sharing companies or the urban bicycle movement over their own vehicles. The study reports that Millennials have a “surprising affinity” for Volkswagen and Tesla, for its use of technology and commitment to social good. The research also predicts this generation of car owners will “prioritize brands based on alignment with their own personal values.” (Huffington Post)

Although 58% of 13-17-year-olds said eating healthy is extremely important to them in a 2014 Ypulse monthly survey, it can be hard for teens and tweens to make the right nutrition decisions. Research has found that despite attempts to bring more fruits and veggies into school lunch rooms, six out of 10 kids “won’t even touch a healthy option on their plate.” One study suggests that food presentation makes a difference in fruit and vegetable consumption, and putting vegetables before other food in the lunch line can get them to eat more. For teens, linking healthy eating to something they already care about can help encourage better diets, while the counting calories approach actually leads to unhealthier eating. (Medical Daily)

Kid content is ruling YouTube. Six of the current top 10 most popular YouTube channels are children-focused, making the launch of the standalone YouTube Kids app look like a pretty smart move. Funtoys Collector, the toy-unboxing channel, is the most viewed creator on YouTube, usurping PewDiePie as the site’s biggest star, and showing the power of the unboxing trend. The six children’s channels in the top 10 earned almost 2 billion views in January alone, and YouTube’s top 100 channels saw viewing increase 110% in the last year, from 7 billion video views in January 2014 to 14.7 billion in January 2015. (The Guardian)

We don’t just deliver data. Along with our bi-weekly survey result data files, we provide our Gold subscribers with a topline report that synthesizes hand-picked, illuminating data points and our insights and expertise. Interesting differences between males and females, older and younger Millennials, ethnicities, and more are highlighted, and relevant statistics are streamlined into an easily consumed, concise, visual takeaway. (Ypulse)

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