Millennial Brides and Their Unrelenting Attitudes Drives the Global Bridal Wear Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) May 07, 2012
Follow us on LinkedIn – The bridal wear market is extravagant with couples unflinchingly willing to invest huge amount of cash to get the best of everything, thereby giving companies fat profit margins. The industry is nevertheless not completely immune to the bottom line factor of ‘cost-effectiveness’. The downturn in the global economy in the recent years has considerably impacted purchasing power, and conversely the willingness to spend lavishly. Amidst a shaky economy, growth in wedding expenditure continues to remain moderate as couples cautiously plan out their wedding budgets to make most of the occasion. Price-conscious brides are being lured away by off-price retailers and individual pocket-friendly designers, giving the larger bridal wear manufacturers a run for their money.
Cost-sensitive brides are doing their bit in researching the market and its wide gamut of offerings. Right from surfing the net, flipping through catalogs/magazines and browsing dozens of shops for the perfect dress, the brides-to-be are on the prowl for lucrative deals that provide value for money. Stores are stocking more of formal gowns, a wider assortment by price range and affordable luxury bridal brands to attract visitors. Exclusivity of garments at retail outlets constitute a crucial factor fundamental to the sustained survival of high end manufacturers as it prevents the latest line of indigenous couture designs from being replicated by other retailers. To prevent customers from switching over to cheaper alternatives, leading players are beginning to invest heavily in building brand loyalty among prospective customers.
Interestingly, fashion trends in bridal wear have been fairly stable through the years. Despite the clamor about the impact of cutting edge fashion, and the changing liberalized ideas on sexuality, fashion trends in bridal wear are timeless, and slow to bow out and make way for radical and hip fads. The most ‘in trends’ in the wedding dresses corner for the current year include blush color shades and feathered elements, tight fit dresses with slits, lace sleeves, tea length dresses, high-low hemline and illusion necklines. In engagement rings, royal blue sapphires are taking the place of diamonds. The trend towards destination weddings is also greatly impacting the choice of bridal attire. Another trend witnessed is the growing popularity of custom made wedding dresses with stores working in line with brides and designers to make ‘individualized’ gowns. The rising impetus for portraying individualities is cutting across the wedding industry and translating into bolder styles. Skipping the conventional wedding videography, couples are creating their own wedding videos by sourcing video shot by friends and editing the same themselves. Venues for receptions are shifting to home backyards and more number of people are expected to attend family and friends’ weddings virtually on smartphones and tablets on Skpe and Facetime.
As stated by the new market research report on Bridal Wear, surplus opportunities await the bridal industry in the upcoming years as demographic shifts in world population guarantee plenty of weddings over the next few years. Close to 70 billion children of the baby boomer population attaining ripe ages for matrimony are expected to drive the future of the bridal wear market. The US and Europe dominate the bridal wear market, garnering the majority share. In the US, and in several countries in Europe, the decline in number of first marriages has been partially offset by rise in divorce rates, and the consequential rise in the number of second marriages of one or more partners. A significant number of second marriages do not involve religious ceremonies, but are nevertheless elaborately formal, entailing considerable expenditure. In China, of late, improvements in standard of living, and the general economic health has spiraled the bridal gown industry to new heights. Bridal stores and outlets/shopping centers are generously investing in stocking designer bridal wear outfits in assorted styles, and dazzling colors.
The bridal industry is notoriously fragmented with a handful of few large retailing chains, and numerous small independent niche retailers. Leading designers face a serious challenge from off-price retailers who flaunt a price advantage. To keep up with competition that stems primarily from customized, and personalized services offered by niche players, seasoned retailers maintain Internet websites which offer a list of wedding services, and products offered by the company. The sites also allow couples to order bridal products online, and specify requirement criterions. Key participants profiled in the report include Alfred Angelo Inc, Macy’s Inc., David’s Bridal Inc., Harrods Ltd, Helen Rodrigues Bridalwear, Justin Alexander Limited, JLM Couture Inc., Paloma Blanca and Pronuptia de Paris SA.
The research report titled “Bridal Wear: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for the period 2009 through 2017 for global and regional markets including the United States, Canada, Japan, Europe, Australia, Latin America and Rest of World.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Bridalwear_Bridal_Wear_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Follow us on LinkedIn
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
Attachments
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
