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: “My aspiration is to retire early and travel!” –Male, 27, CA

They’re putting off marriage and they’re moving back in with mom and dad—and we’re not just talking about Millennials. While younger consumers are becoming “boomerang kids” at higher rates, more Gen Xers and adults at all age levels are living at home than they did 30 years ago. The share of adults who have never been married, while highest for Millennials, has also “swelled” for almost all age groups. (CityLab)

Burger King’s Peace Day partnership offer to McDonald’s was brusquely dismissed, but plenty of other burger chains are willing to play. The pop-up Peace Day shop to raise money for UNICEF will now be created with smaller brands like Denny’s, Wayback Burgers, Krystal, and Giraffas, all of whom reached out to Burger King on social media to announce their eagerness to collaborate. We think young consumers like when brandsPlay Nice with one another, so despite criticism, the campaign is hardly a failure. (AdAge)

Would you ever book a flight if you didn’t know the destination? While your answer might be a strong “NO,” several airlines are using “blind bookings” to “generate some excitement and capitalize on the spontaneity and sense of adventure among younger travelers.” The surprise destination tickets are cheaper, and some brands allow participating customers to pick their dates and interests (partying, culture, shopping, cities, etc.) before choosing their endpoint for them. (WSJ)

The 2015 SAT must have been a doozy of a test. Scores were down seven points from the previous year, their lowest since 2005 when the test was last reworked. The number of students who are considered “prepared” for college is down 16% among black students and 23% among Hispanic students. One factor in the drops is the fact that more students are taking the test than ever before, but high school math and reading skills may be an issue. (The Daily Beast)

While more brands amp up their digital efforts, experiential marketing may be more important than ever to appeal to young consumers, who are looking for unique activities they can talk about on social. Adult Swim’s pop-up drive-in theatre is certainly giving them a sharable moment. The brand is touring the country to give fans 18 and older outdoor screenings of unaired episodes, along with free food truck treats, trivia, and prizes. (Adweek)

Quote of the Day: “A major life milestone that happened this year was that I met my idol, Taylor Swift.” –Female, 22, CA

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