wedding costs

What Does Inflation Mean for the Wedding Industry?

The Canadian wedding industry was particularly sensitive to the effects of the COVID-19 pandemic. The lockdowns of 2020 brought the industry to a grinding halt. Venues were closed, and vendors saw their bookings vanish overnight. Even as lockdown restrictions began to ease in 2021, the wedding industry was slow to recover. Couples and public health officials alike were reluctant to embrace large public gatherings. As such, the sector would languish for another year.

However, 2022 has been viewed as a hard reset for Canadian wedding professionals. But while the year has brought a sense of optimism, there are still challenges on the horizon. Since so many couples had delayed their ceremonies, the industry now faces a supply shortage. While many vendors are happy to have full calendars again, the supply shortage can make planning a wedding difficult. The internal dynamics of the wedding industry are challenging enough, but now there is evidence that the industry is preparing to deal with a broader economic trend: inflation. 

Inflation in Canada 

Economists define inflation as a general increase in the price of goods and services. While the cause is the subject of intense debate, the United States and Canada are currently experiencing the highest inflation in decades. Statistics Canada puts the country’s official inflation rate at a whopping 6.8%. This marks the highest inflation rate in over 30 years. The rise in prices can be seen everywhere, and weddings are no exception. 

What Inflation Means for the Wedding Industry

Weddings are notoriously expensive. Before the pandemic and the inflation that followed, a couple could expect to spend around $30,000 on their big day. The current economic environment could very well see a dramatic increase in a wedding’s sticker price.

Typically, the most considerable expense a couple encounters when planning a wedding is the venue space. Even if inflation were not a factor, the surge in demand for weddings is making venues difficult to secure. High demand means that venue owners can charge more to rent out their spaces.

Additionally, though, venue spaces are currently experiencing higher operating costs. Increases in the prices of utilities combined with an ongoing labor shortage are contributing to higher venue prices across the country.

Catering is also particularly sensitive to the current inflationary environment. The combination of high fuel costs, the labor shortage, and an ongoing supply chain crisis has culminated in record food prices.

Wedding caterers are already stretched thin to fulfill their obligations, but an increase in the cost of food and transportation has caused them to raise their prices. While 2022 is still on track to be a record year for weddings, this ongoing rise means that couples must be creative with their wedding budgets. 

How Couples Are Responding

The pandemic and the business environment that it created have changed the wedding industry forever. Couples have had the opportunity to reframe their expectations about what a wedding should be. To meet the challenges in the marketplace, couples are embracing micro weddings and even virtual weddings. They’re also embracing a do-it-yourself mentality. Rather than outsourcing planning, catering, or decorating, nearlyweds are finding value in getting their friends and family involved. Not only does this save money, but it creates a more genuine and community-oriented experience for all.

While times are certainly challenging, the future is optimistic. It appears that many couples are getting back to the basics of what weddings are truly for. While the industry is still in the early phases of this transition, what is certain is that vendors will adapt to ensure that great wedding ceremonies are accessible to all who want them. 

When the Price Is Right: How The Season Impacts Your Wedding Costs

Before you tie the knot, it is important to consider how the season in which you choose to have your wedding can impact the cost of the festivities.

Before you tie the knot, it is important to consider how the season in which you choose to have your wedding can impact the cost of the festivities.

September is the most popular month for Canadian weddings, according to Wedding Wire’s 2019 Global Report. Yet popular wedding seasons can also bring with them higher costs, so you may want to consider tying the knot during an off-season. Before you go all in and pick a date, it’s a good idea to weigh your options. Choosing an off-peak time or booking your event during a popular season both have their pros and cons.

What Affects Wedding Services Pricing?

Vendors look at a wide range of factors when setting pricing for their services. Besides the costs of materials and labor, demand impacts how much their clients pay. This demand is affected by relevant details, but the two major aspects are weather patterns and guest availability. September’s more stable weather and cooler temperatures work well for both indoor and outdoor ceremonies, providing many options for venues and dates. Saturdays, of course, are the prime day, with more people having free time to attend these events.

The law of supply and demand indicates that prices increase when demand increases but supply either decreases or remains static. There are only so many clients that vendors can book on any given day, so they’re less likely to budge on their rates. Some service providers may be more willing to negotiate or offer discounts during off-peak dates and times. Look at it from the vendor’s point of view: It’s better to earn some money than none at all. That’s especially true when you consider overhead costs, which Investopedia mentions can encompass rent, insurance, and utilities.

Seasonal vs. Off-Season Dates

While September is the most popular month to wed in Canada, local weather patterns can also determine when each region’s peak season occurs. Go further north to places like Edmonton or Whitehorse and you’re more likely to see couples tying the knot in July or August. That’s why it’s essential to check with local venues for their busiest months and book accordingly.

Couples desiring to pay less may eye off-peak dates, which could offer significant cost savings. A March 2018 CNBC article explains that vendor and venue pricing can be up to 20% lower during the off-season. The winter months are often the least sought-after, but bookings for holiday parties skyrocket in December. As a result, you could encounter larger price tags on Yuletide nuptial celebrations. Also, some costs don’t dramatically decrease regardless of when you host your affair. While flowers and some foods may price out a little less, chances are that your ring and formal attire won’t.

Selecting a date during your area’s wedding season also has its advantages and drawbacks. You’ll likely pay more, thanks to the higher demand. With venues and vendors booking up more quickly, you may end up jockeying with other couples for the best dates. However, more of your guests will attend since they’ll probably have more free time. Outdoor weddings get a beautiful boost from natural scenery. You also won’t need to worry about weather extremes that can ruin your special day, like oppressive heat or massive snowstorms.

Meanwhile, don’t forget to consider the day of the week and time of your celebration. NerdWallet suggests scheduling yours for a Sunday or weekday for lower rates. Also, a brunch or early afternoon wedding with a cake and punch reception may keep more green in your bank account.

Getting the Best of Both Worlds

Getting married as a cash-strapped couple can be challenging. Understanding the factors that impact wedding services pricing can help you plan strategically. At the same time, don’t sacrifice too many advantages simply to save money. Ultimately, your goal is to achieve the best balance of convenience, cost savings, and your own satisfaction.

Keep These Hidden Wedding Costs on Your Radar

It is important to keep hidden wedding costs in mind so you are not surprised by the total cost of your wedding, even if you are planning a smaller affair.

It is important to keep hidden wedding costs in mind so you are not surprised by the total cost of your wedding, even if you are planning a smaller affair.

As far as parties go, weddings tend to be some of the most expensive. Even planning for a small event can cost a fortune, especially when you don’t take time to think about all of your expenses. Weddings have lots of hidden costs and fees that couples tend to forget about while planning. Unfortunately, you need a somewhat accurate figure for what everything is going to cost you before you can feel confident in your ability to pay for your wedding. To achieve this goal, you’ll need to do some investigation into common hidden wedding costs to avoid being blindsided by expensive surprises.

Fixing Your Attire

After you’ve said yes to the dress, you might feel like you can check off a vital task from your wedding to-do list. Unfortunately, the journey toward a perfect look doesn’t often end with selecting the right outfit. In many cases, brides and grooms purchase dresses and tuxes long before the big day arrives. While this makes sense, it doesn’t always take into account that weight can fluctuate in a short amount of time. This means you could very well be looking at a situation where you need to have alterations made.

Though dress or tux alterations are quite common, plenty of couples don’t take this service into consideration when budgeting. If you’re still early in the planning process, you might not be sure whether you’ll require alterations of any kind. To keep yourself prepared for additional wedding costs, be sure to set aside a bit of additional cash for this service should you require it. You might also find it useful to budget for other services like cleanings, pressings, and anything else that might arise in regard to your clothing. 

First Time Around

Clothing is one area where you need to budget a little extra, but there are other wedding costs related to your appearance. Hair and makeup can be a big deal for a bride on her wedding day. If you have never used a particular stylist before, you might feel like you need to do a “test run” before your big day arrives. Also known as trials, these preliminary appointments are wildly important to determining whether or not you feel satisfied with the stylist you have chosen.

Failing to book a trial for hair or makeup can easily cause you more harm than good. The last thing you want is to show up to your appointment on the day of your wedding and leave feeling like you look horrible. Avoid this by setting aside additional money in your budget for hair and makeup trials. Inquire with stylists about how much a trial costs. While it doesn’t usually cost the full amount, a trial can still have a hefty price tag. Do your research and shop around to find a price you feel comfortable with.

The Very Important License

Though this can seem obvious to some, there are many people who forget all about their marriage licenses until the last second. Though you can acquire a license whenever you need one, you also need to make sure you have money set aside for the paperwork and any additional fees attached. Look up the specific regulations and fees for your area early on. This way, you will know exactly how much you need to incorporate into your wedding costs to get all of the official documents for your wedding signed, sealed, and delivered.

Hidden fees can be a pain in the neck, but budgeting for surprises can minimize the stress. Start saving early and look into the costs of various services to make sure you’re covering all of your financial bases.

 

3 Reasons Why You Should Consider a Winter Wedding

88356215One of the first things couples must decide after getting engaged is the date of the big day. The initial instinct may be to opt for a spring or summer wedding, but winter weddings in Canada are fast becoming a popular option. There are many lovely venues around the county that are perfect for nuptials at this time of year.

Snow Can Create a Fairy-Tale Setting

If it snows on your wedding day, you will have a ready-made, magical backdrop and the opportunity for uniquely beautiful wedding pictures. Imagine photos of family and friends with gently falling snow in the background. Guests can also pose alongside outdoor ice sculptures, snowmen and Santa’s sleigh. In addition to snow, you may also benefit from festive holiday decorations already in place at your venue.

Availability

The majority of people still get married when the weather is warm, so chances are you will have more options when it comes to venues. Prices are also usually lower, unless you opt for a wedding at a ski resort in high season. There may be less competition when it comes to the availability of friends and family. With the exception of the holiday season, guests may have fewer social commitments during the winter.

Being Different Is Cool

There are probably a lot of people who have never attended a winter wedding, and the allure of a new experience can be enticing. When it is cold, there is a whole array of different ways to entertain guests, such as skiing, ice skating, snowshoeing and snowball fights. There are also a limitless number of choices for less conventional wedding attire. Think faux fur wraps, Victorian boots and funky hats.

Idyllic Spots for a Canadian Winter Wedding

  • Storm Mountain Lodge and Cabins, Banff

Nestled in the Canadian Rockies in Banff National Park, Storm Mountain Lodge and Cabins is the perfect choice for a small wedding in a secluded scenic location.

  • Castle Moffet, Nova Scotia

Located on breathtaking Cape Breton Island, there are views of the surrounding mountains and Bras d’Or Lake. The castle provides a lovely, romantic setting that is the perfect place for couples to begin their life together.

  • Vineland Estates, Niagara on the Lake

Long considered the most popular place to honeymoon, many couples are also realizing the Niagara Falls area is a spectacular place for a wedding as well. Niagara on the Lake is situated several minutes from the falls and has many vineyards and orchards. The Vineland Estates vineyard sits on acres of picturesque countryside, and features a gourmet restaurant and a lovely stone carriage house that is a wonderful place for a wedding. There are also many charming inns in the surrounding area.

  • Ice Hotel, Quebec

If you really want to embrace the cold, holding your nuptials at the Ice Hotel in Quebec may be a perfect choice. Composed entirely of ice and snow, this venue is open from January to April. Quebec City is also one of the most romantic places anywhere and offers an abundance of old world charm and fantastic cuisine.

Other Winter Wedding Tips

  • Be Aware of the Altitude

If you are hosting a wedding in the mountains, and you or guests live at lower altitudes, be aware of the possibility of altitude sickness. Drinking lots of water and not overindulging in alcohol the first night in town are two suggestions. There is also medication available that can help you avoid getting sick.

  • Protect Yourself From the Sun

The sun can be particularly intense during the winter, especially if you are in the mountains. The higher altitude makes the sun’s rays more powerful, and they are reflected in every direction off of the snow. Wearing sunglasses and using sunscreen and lip balm provides additional protection.

Your wedding is a very special event. Be bold and consider following the path less traveled by having it in winter.