The Bridal Stores industry has slightly declined over the five years to 2018, as the falling marriage rate has clashed with a strong macroeconomic climate. Although fewer couples tied the knot during the five-year period, growth in per capita disposable income and consumer confidence encouraged more brides and grooms to splurge on high-value wedding goods. Although strong consumer buying power has benefited revenue, the falling marriage rate has limited demand. As more women have entered the workforce and become financially independent, more couples have delayed or opted out of marriage. Over the five years to 2023, industry revenue is anticipated to continue slowly declining as the marriage rate continues to fall and external competition grows. Companies are expected to increasingly invest in labor to provide superior customer service and differentiate from online retailers. Furthermore, many brick-and-mortar retailers will lower their prices in an attempt to remain competitive with the prices offered by online retailers.
Stores in this industry primarily retail bridal wear, including wedding gowns, veils and other accessories such as shoes, gloves and jewelry. Stores also typically provide alterations, such as hemming, taking in or letting out seams, and lengthening or shortening sleeves.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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