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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The Newsfeed

Quote of the Day: “A wedding trend I’ve noticed recently is guests not dressing formally to the reception/wedding, more come as you are attitude.”—Female, 24, MI

This week, Mattel introduced an American Boy doll, their first male offering in the company’s 31-year history. New doll Logan Everett is part of a pair of singer-songwriters from Nashville who come with music-inspired accessories. The company reports that customers have been asking for a male doll for some time, and Mattel’s continuing strategy to diversify their offerings helped increase sales by 4% last year. (KidscreenNYTimes

Kids in Australia are spending more time online than watching TV. Research firm Roy Morgan reports that in 2016 six-13-year-olds spent an average of 12 hours a week online compared to 10.5 hours spent in front of the TV, the first time internet surpassed TV since the survey began in 2008. Online time has also almost doubled in the last eight years. The firm says, "The idea that TV is boring no matter what is on is just because TV is so static and it might have ads on it." (ABC

The current state of the White House has ignited Gen Z’s interest in politics—according to AwesomenessTV’s CEO, Brian Robbins. He reports that his own children’s newfound fascination with politics sparked by the recent election has inspired him to bring more political content to AwesomenessTV. Because “[a]n audience that really wasn't that interested is now really interested," the company will move away from “fluffy, horrible” entertainment news into political news, which could be in the form of documentaries, or scripted shows. (Business Insider)

Millennials are reporting higher rates of depression than any other generation, creating challenges at work. To avoid the stigma surrounding mental issues, young employees are increasingly resorting to using personal days to recuperate from anxiety, depression, and other afflictions. According to one expert, “this generation is not necessarily more depressed than workers of past generations, but more equipped to recognize it”—however, they fear judgement from their employers. (MarketWatch)  

Is Snap Inc. really a camera company? They say they are, and in their IPO filing the brand wrote, “In the way that the flashing cursor became the starting point for most products on desktop computers, we believe that the camera screen will be the starting point for most products on smartphones.” WeChat’s ability to read QR codes, Pinterest’s new visual search, and Facebook Messengers’ new visual capabilities all point to expanding capabilities of a camera—and the fact that “users’ experience of the world is increasingly mediated through cameras.” (The New Yorker)  

Quote of the Day: “I have a diamond wedding ring but any stone would be beautiful and appreciated.”—Female, 24, MN

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