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MARKET SUMMARY
1.1. Presentation and market definition
The wedding market includes all products and services revolving around marriage. This includes, among other things, clothing (wedding dress and costumes), venue, catering, decoration, etc.
The size of the global wedding market is increasing in line with stronger disposable income, and the strong cultural and social ties linked to marriage. The US leads the global market in terms of expenditure.
The size of the French wedding market is decreasing due to several factors: first, marriages overall are declining. Since 2004, the number of marriages in France has decreased by 21%, which puts pressure on companies operating in this industry. Secondly, consumers in France, unlike in the United States, are less willing to spend vast amounts on weddings.
A trend which is emerging in France, and which is related to expenditure, is the rise of do-it-yourself (DIY) arrangements in weddings, where products related to the wedding (invitations, decoration etc.) are "home-made". Again, this means that market players in this industry forego potential sales in an industry which is already highly fragmented with pressure on margins.
Finally, COVID-19 will have a detrimental effect on the wedding market in France, a harm which will most likely persist going into 2021 as well.
1.2. Strong global growth
Source: ****
The wedding market includes many aspects such as infrastructure, clothing, catering, entertainment services, event planning etc. In particular, the wedding wear market is somewhat easy to quantify. Above, we find that the global market for wedding wear was valued at $**.* billion in ****. Between **** and ****, the market is expected to grow ...
1.3 A declining French wedding market
Source: ****
As the graph above shows, the number of people getting married in France is decreasing. In ****, ***,*** people got married, whilst the equivalent was ***,*** in ****. This represents a decrease of almost **% over ** years.
To estimate a market size in France, we can use the average spending per marriage and multiply by ...
DEMAND ANALYSIS
2.1 Profile Analysis: The French Consumer
Overview
Source: ****
The average age at which French people get married has increased significantly; in **** the value for men (***) years.
For same-sex marriages the average age to get married is **.* years olds for men and **.* for women. [***]
This trend points towards a shift in the French society where marriage is postponed ...
2.2 Demand Trends
Cyclicality in weddings
Source: ****
The graph above represents the proportion of searches for a given term in a given region during a specified amount of time, compared to when it was the most searched (***). Thus, a value of ** means that the keyword has been used less often in the region concerned, ...
2.3 COVID-19's impact on the industry
COVID-** has turned **** into a nightmare year for any business operating in the wedding industry. Since March, weddings have been completely forbidden. The French Government stated only recently that "as part of the progressive deconfinement, it is once again possible since * June **** to celebrate weddings and to register PACS in town ...
MARKET STRUCTURE
3.1. Market structure
As has been previosuly emphasized, the wedding market consists of several actors which all play a part in the final wedding, such as dress retailers, wedding planners, and sources of financing. Below we provide a breakdown in the market structure of some of the players in the different sub-segments of the ...
3.2 Distribution
Distribution of components which are essential to weddings must again be broken down and analysed separatly.
In **** the wedding dress market in France was valued at around €*** million. In terms of the distribution of wedding dresses, the majority of the distribution remains physical due to the necessity to find a good ...
ANALYSIS OF THE OFFER
4.1 Product Analysis
Weddings include many services and goods to consider. This includes the venue, decoration: flowers, lightning, design, etc., clothing (***), and indirect services which are purchased in relation to the wedding such as the honeymoon.
Below follows an overview of the supply of wedding venues in France (***).
Source: ****
In ****, we find that **% of ...
4.2 Price Analysis
In this section, we provide an overview to all cost components which are integral to a wedding. The tables below show the average expenditure for different wedding components. In particular, the scope of the caterer in terms of costs should be emphasized. The figures serve as an overview and prices can ...
RULES AND REGULATIONS
5.1 Regulation
Administrative aspects
The operation of an apartment, a reception room or even a country cottage is not subject to any specific professional status. The rental of real estate is possible without creating a company. Only the standards in force (***) and the tax return of this rental is mandatory.
To transform an ...
POSITIONING OF THE ACTORS
6.1 Positioning of the actors
- Pronuptia International
- Pronovias
- Laura Z Organisation
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1 sector analyzed in 40 pages |
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Analysts
chargé d'études économiques, Xerfi
Hugo S.
Associate Consultant
Mathieu Luinaud
PhD Industrial transformations
Robin C.
Analyst
Pierre D.
Ross Alumni Club France
Arnaud W.
Analyste de marché chez Businesscoot
Amaury de Balincourt
Consultant
Pierrick C.
Project Finance Analyst, Consulting
Maelle V.
Etudiante en Double-Diplôme Ingénieur-Manager Centrale
Héloise Fruchard
EDHEC
Imane E.
Auditeur
Vincent D.
Eva-Garance T.
Market Research Analyst
Michela G.
Market Research Analyst @Businesscoot
Azelie P.
Market Research Analyst @Businesscoot
Cantiane G.
Consultant
Jules D.
Alexia V.
Emil Ohlsson
Anna O.
Gabriel S.