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The value of the UK wedding market was estimated
at £3.62bn in 1998, representing a 1.7 percent increase on the previous year.
This report considers the outfits and accessories worn by the bride, the
bridegroom and the attendants. In 1998, these sectors (excluding going-away
outfits, lingerie and cosmetics) were worth £485.1m (equating to 13.4 percent of
the total market), an increase of 6 percent over the previous year.
Industry
fortunes have been erratic during the 1990s, and it is somewhat surprising that
any growth has been achieved as the number of marriages continues to decline
significantly. Between 1992 and 1997, the number of marriages in the UK fell by
over 16 percent. Furthermore, the number of weddings that are first marriages for both
partners (the area where expenditure is generally at its highest) is at an all
time low.
Nevertheless, value growth continues to outstrip that of volume.
The average amount spent on a traditional wedding gown is, in 1999, between
£800 and £900 and has more than doubled since 1989. The choice of
wedding outfit is virtually limitless, ranging from the traditional white dress
with veil to the most contemporary of designs in all colours and patterns. A
change in the law has approved premises other than the church or registry
office for marriage ceremonies. This has also changed people's perceptions of
suitable wedding attire.
The UK bridalwear industry is fiercely competitive
and highly fragmented, with only a handful of large manufacturers and
retailers, and a myriad of small, independently-owned bridal shops and
specialist designers. Competitiveness has forced some designers to move further
away from couture and more into ready-made, but, as with any design-led
industry, there are always manufacturers poised to make their own versions of
designer goods.
Although it is unlikely that marriage rates will reach the
levels seen in the past (due to the acceptance of cohabitation, the UK's ageing
population and the increase in the number of single-person households), the
immediate future looks bright, as many couples will be planning Millennium
weddings. Key Note estimates that the value of the bridalwear market will reach
£504.6m in 1999, and £530m in the year 2000, when the number of
marriages might be expected to remain static, if not increase. Further into the
future, it is predicted that the disparity between value and volume will
increase, with the market worth an estimated £592m in 2003.
Text © 1999 Key Note
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Last updated by Jacob van Eldik 19th January 2000