It’s been widely said that Brits are finally feeling the benefit of a bit more cash in their pockets and new research from VoucherCodes.co.uk reveals it’s having a knock-on effect on the nation’s weddings this year.
The trend for designer weddings is on the up, with a whopping half (49%) of Brits set to marry this year that plan to blow the budget – over double the 19% who planned a costly ‘do’ in 2014.
Even those couples not planning a lavish wedding this year are upping the ante, with Brits shelling out an average of £16,364 on swish venues, outfits and accessories. A 28% rise on the average outlay in 2014 and a substantial 36% increase on the average cost of £11,947 five years ago.
The desire for a lavish wedding has also seen a hike in spending on big ticket items, with a third of brides (33%) planning to splurge on a designer gown to walk down the aisle in, and the average bride forking out 40% more (£357) for their wedding dresses than in 2014.
A welcome boon for the retail and leisure industries, this year’s newlyweds will be partying with an average of £1,449 on food and drink, and £1,072 on entertainment for the reception, while slicing a massive £660 out of their accounts for the wedding cake alone – nearly double the £346 spent on wedding cake in 2010.
But while Brits are prepared to splash out on their big day, it seems that couples have learnt a few lessons during the recession and are finding clever ways to cut down on costs before cutting the cake.
Many couples will be indulging in a spot of DIY with almost a third of those planning to get hitched this year making homemade items – from the wedding invitations to the flower arrangements – to cut costs.
Despite the penchant for a designer gown, some savvy brides are also turning to high street alternatives are to trim costs, with over half (55%) planning to wear a high-street equivalent on their big day.
Taking it one step further, over one in five have even asked their bridal party to contribute towards their outfits for the wedding, while an additional 22% admit to using voucher codes and cashback offers to save on wedding-related items.
Savvy couples are also aware that the costs of getting married don’t stop at their wedding day, with a quarter of those under 35 (24%) choosing to save and take their honeymoon at a later date.
Compared to their parents’ generation – 85% of whom chose to take a traditional full honeymoon straight after the wedding, – today’s generation is seemingly more cost-conscious than ever.
Anita Naik, Lifestyle Editor at VoucherCodes.co.uk, says: “Everybody wants their big day to be unforgettable and it’s easy to get sucked into spending more than you budgeted, especially when you start to eye up designer outfits.
“As many newlyweds have already discovered, there are ways to have a designer wedding without the designer price tag, with brides and grooms staying savvy with their finances and tapping up high street and homemade equivalents to help cut down on costs.“