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As the bridal industry weathers economic and geopolitical concerns, brides look for gowns with special touches and retailers say they're working to offer more last-minute options
Bridal manufacturers are rolling with an evolving world, with overinformed and indecisive brides, shipping concerns, a tough geopolitical landscape, sustainability objectives and rising costs and inflation.
In a survey of 12,000 couples who plan to wed this year conducted by The Knot, 61 percent said the economy has already impacted their wedding planning and decision-making. And 49 percent pegged inflation and rising costs as another top concern.
Those in the bridal industry describe brides who are flush with information, and often looking for styles that fit their individual tastes, with special touches. Brides as still willing shell out for "the one," experts said, though the industry could do better providing options for people across the size and gender spectrum. With sourcing issues in the news, some brides are reconsidering where their gowns will be shipped from to avoid any delays.
For retailers, e-tailers, designers and brands, there are still many opportunities in the global bridalwear market. By 2026, bridalwear is expected to reach $69.9 billion in volume, compared to $55.5 billion in 2020, according to the Global Bridal Wear Industry Report. With nearly $26 billion in 2021 sales, the U.S. continues to control the lion's share of the business with more than 44 percent of market control. In second place is China, which is forecasted to reach $6.8 billion in sales in 2026, the report said.
Broadly, the bridal industry needs to work to cater to a wider and more diverse range of brides, according to The Knot Worldwide's Lauren Whalley, fashion editor, inclusivity and beauty. "There's still so much white space in wedding fashion, when it comes to inclusivity and...