CostOfWedding.com reports that the average cost for these pending nuptials will be $26,680 including (but not limited to) rings, dresses, tuxedos, flowers, venues, photographers, invitations, limos, and rice (or birdseed for the ecologically inclined).
This means small business owners in the Augusta area who cater to the bridal market will be competing for a share of $332 million.
Open season for this market runs from Thanksgiving to Valentine's day. That's when 40% of all engagements occur. Or, as Washington Post writer Ellen McCarthy says, this is when "rings bring cha-ching." It's not unusual for many bridal related businesses such as jewelry stores to bring in half of their annual sales during those 11 weeks.
For local business owners, the best way to reach the bridal market in the CSRA is on the radio.
Last week, for instance, 94% of everyone planning to be married over the next 12 months tuned-in to an Augusta radio station. This is significantly more than watched local TV, read a local newspaper, or logged-on to Facebook, Snapchat, or Instagram.
Based on information from the wedding site The Knot and adjusted for Augusta, here is how the blissful couples will be spending their bridal budget:
- Reception Venue: $11,769
- Photographer: $2043
- Wedding/Event Planner: $1527
- Reception Band: $3238
- Reception DJ: $985
- Florist/Décor: $1838
- Videographer: $1541
- Wedding Dress: $1244
- Groom Attire: $216
- Wedding Cake: $403
- Ceremony Venue: $1816
- Ceremony Musicians: $608
- Officiant: $219
- Catering (price per person): $54
- Transportation: $653
- Favors: $187
- Rehearsal Dinner: $989
- Engagement Ring: $4330
- Invitations: $295
- Hairstylist: $94
- Makeup Artist: $78
Augusta area small business owners can estimate the size of the market for each of these goods and services by multiplying the number above by 12,448. For instance, the total amount that will be spent at local florists will be $22,879,424. For limo companies, the market is $8,128,544
To successfully win the battle for the brides in each category requires small business owners to advertise. Effective advertising requires reaching as many brides and grooms as possible. Augusta radio is, by far, the best way to reach the area's lucrative wedding market.
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