CostOfWedding.com reports that the average cost for these pending nuptials will be $30,684 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 Philadelphia area who cater to the bridal market will be competing for a share of $2.4 billion.
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 Delaware Valley is on the radio.
Last week, for instance, 86% of everyone planning to be married over the next 12 months tuned-in to a Philadelphia radio station. This is significantly more than watched local TV, read a local newspaper, or logged-on to Facebook, Snapchat, and Instagram.
Based on information from the wedding site The Knot and adjusted for the Philadelphia area here is how the blissful couples will be spending their bridal budget:
Philadelphia area small business owners can estimate the size of the market for each of these goods and services by multiplying the number above by 77,351. For instance, the total amount that will be spent at local florists will be $163,456,594. For limo companies, the market is $58,090,601.
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. Philadelphia radio is, by far, the best way to reach the area's lucrative wedding market.
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