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 won’t buy an already-made costume to dress up in for Halloween because most of the ready-made options for women are overly sexualized.” –Female, 19, TX

She's a Barbie girl, but it's not exactly a Barbie world. It’s been a hard year for the blondest toy, as we’ve detailed before, and sales of the doll have continued to fall, dropping another 21% in the third quarter of this year. American Girl doll sales also dropped during that time period, and the struggles highlight how the “affections of the target audience—little girls—can be fleeting.” But there are plenty of other potential reasons for Barbie’s tough times: Girls today want edgier dolls, and spend more on tech toys. (Huffington PostBusiness Insider

If done right, young consumers have proven they will continue to buy tickets to see superheroes on screen, and there are a lot more of these movies in the works. This week, Warner Brothers announced plans for 10 new DC comics superhero movies over the next five years, including Wonder WomanAquaman, and The Flash. A movie featuring Lego Batman is also being fast-tracked for next year, so kids and adults alike can look forward to another fix of awesome. (Wired)

It’s 13 days until Halloween, and this year could be the most costume-filled holiday ever. A recent survey has shown that over two thirds of Americans plan to buy a costume, the most in eleven years. The fact that Halloween falls on a Friday has likely been a factor in the boost. Ypulse’s own most recent bi-weekly survey found that 36% of 13-32-year-olds plan to don in a costume to celebrate, 30% of those who plan to dress up will buy a pre-made costume, while 54% say they will purchase some items to make a costume of their own. (Ad Age)

MAC cosmetics is creating an entirely new kind of store that will target today’s teens and tweens. The stores will be designed completely differently to appeal to the younger consumers, including a “major focus on selfies” and a table full of products to sample on the spot. When explaining the new approach, global brand president Karen Buglisi Weiler told WWD, “One store doesn't fit all…You have to be in the world of customization and relevancy now." The first location opened over the summer in Orlando, and is reportedly already one of MAC’s top five stores in North America. (Racked)

Some of the hottest tech startups today are part of the “photo economy.” Millennials and teens have made their penchant for visual communication clear, and helped to make multiple photo sharing apps into huge success stories. Now entrepreneurs are fighting into the space with photo apps that put an emphasis on “storytelling, shopping, and storage.” Competition is tough, and so far the many startups that have tried to make photos shoppable have not succeeded. But still clearly the apps to know next will likely have something to do with this picture-obsession. (Fast Company)

Did you know that thanks to our bi-weekly survey of 1000 14-32-year-olds nationwide, we track trends in social media, entertainment viewing, earnings, spending, and more? Our Silver and Gold subscribers get access to regularly updated charts following average daily spend and items purchased broken out by age and gender. We do the heavy data lifting, and we’re constantly adding new data to our trends. (Ypulse)

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