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 like shopping at Staples because they have good prices on supplies I need for school [and] electronics or other devices I may need.” –Female, 17, ID

For urban Millennials, getting married doesn’t necessarily mean saying goodbye to roommates. Members of the generation continue to mature into adulthood in an untraditional way, and with rent increasing dramatically, some are choosing living as husband and wife and roomie over a moving to smaller place, or having a longer commute. This acceptance of communal living could be a reflection of the rise of the sharing economy, as it becomes the norm to share everything from rides to the kitchen. (New York Times)

Although most of today’s 18-24-year-olds were still in high school or college during the Great Recession, it’s still affecting their career choices today. A survey from Way to Work found that 70% would prefer a stable job over a job they were passionate about but offered little security, and one third said finding that secure job was their top concern. 34% of Millennials named financial stability as their greatest aspiration. (Forbes)

According to some teens, “MTV is dying.” Hoping to reverse that sentiment, MTV will be introducing eight new series, and has 85 more in development, that are meant to reflect Millennials’ “unbridled optimism.” Upcoming series include a reality show about YouTube star Todrick Hall and a scripted comedy around Vine star Logan Paul—MTV likely has their fingers crossed these social media stars will bring their fans to the network. (Adweek)

YouTube channel AwesomenessTV has successfully hooked hundreds of thousands of young viewers, and now they’re setting their sights on a new audience: Millennial moms. Their new network Awestruck will premiere later this year, offering a wide range of female-centric series, from comedy to drama to talk shows featuring both online stars and Hollywood celebrities. The network hopes that young moms will turn to them as they consume more online video content. (StreamDaily)

What does it take to become “Insta-famous?” Sometimes it just takes being photographed in the right place at the right time. Sixteen-year-old Charlotte D’Alessio amassed tens of thousands of followers in just a few days when a photo of her and her best friend, model Josie Canseco, went viral at Coachella. From there Canseco and D’Alessio appeared on celebrities’ feeds, the Coachella account, and new fans’ Tumblr posts. The girls’ viral status speaks to how quickly notoriety can amass for young consumers in the age or micro-fame. (BuzzFeed)

Want to know Millennials' favorite fast food chain? How often they're dining out? What they order? Our most recent topline and date on 13-32-year-olds gave Gold subscribers the inside scoop on all their food and dining preferences. We deliver in-depth tables and a visual report to them every two weeks, covering another aspect of young consumers' behaviors, beliefs, and more. (Ypulse)

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