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In 1996, the value of the UK wedding market
increased by 7.9 percent to exceed £3.33bn. This was accompanied by a 1 percent
increase in the number of UK weddings, including those taken abroad, to
358,200.
There are nearly as many bridal outfits purchased
in the UK as there are weddings. In 1996, there were 357,100 bridal outfits
purchased at an average price of £722, 6 percent higher than the 1995 average of
£680. Wedding dresses account for most of the expenditure on bridal
outfits, with an average price of between £500 to £600.
Most wedding dresses are white or ivory, although
there is a trend towards colour, which is partly a reflection of higher levels
of remarriage and longer periods of living together before marriage.
The bridalwear industry suffers from oversupply,
with a structure which is both highly competitive and fragmented. Against a
market which is stagnant but erratic, this has meant that most suppliers have
sought ways to cut costs in order to maintain profitability during the 1990s.
Formal Group PLC has put Pronuptia retail outlets into administration, as they
are no longer thought to be a going concern, while many of the top designers
have introduced ready-to-wear ranges.
Although the industry is highly fragmented, it is
dominated by two major suppliers, Bridal Fashions Ltd and Formal Group PLC. The
Formal Group produces 80 percent of Pronuptia's designs. With 18 of 60 Pronuptia
outlets going into administration, it is unclear how Formal Group's share and
role in the industry will change.
Despite a difficult market for the bridalwear
industry, in recent years, there is some optimism as recent films, weddings
abroad and a slight change in moral attitudes suggest that the new generation
is taking a keener interest in marriage and its ceremony than in recent years.
Nevertheless, social change is slow, and even with the development of one-stop
wedding shops, there is unlikely to be a dramatic increase in the bridalwear
market over the next few years.
Key Note forecasts that the market for bridalwear will grow by 22.9 percent between 1997 and the year 2000, to a value of £585.5m.
Text © 1996 Key Note
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Last updated by Duncan Nottage 5th March 1999