Assuming that those folks are hitching-up with each other, that means there will be 19,394 weddings.
CostOfWedding.com reports that the average cost for these pending nuptials will be $29,003 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 Las Vegas who cater to the bridal market will be competing for a share of $562 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 Las Vegas is on the radio.
Last week, for instance, 96.7% of everyone planning to be married over the next year, tuned-in to a Las Vegas 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 Las Vegas, here is how the blissful couples will be spending their bridal budget:
- Reception Venue: $12,794
- Photographer: $2220
- Wedding/Event Planner: $1659
- Reception Band: $3520
- Reception DJ: $1071
- Florist/Décor: $1998
- Videographer: $1675
- Wedding Dress: $1352
- Groom Attire: $235
- Wedding Cake: $438
- Ceremony Venue: $1974
- Ceremony Musicians: $661
- Officiant: $237
- Catering (price per person): $59
- Transportation: $710
- Favors: $204
- Rehearsal Dinner: $1075
- Engagement Ring: $4707
- Invitations: $320
- Hair stylist: $102
- Makeup Artist: $85
Las Vegas small business owners can estimate the size of the market for each of these goods and services by multiplying a dollar amount above by 19,394. For instance, the total amount that will be spent at local florists will be $38,749,212. For limo companies, the market is $13,769,940.
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. Las Vegas radio is, by far, the best way to reach the area's lucrative wedding market.
More Advertising Advice For Las Vegas Small Business Owners
- The Value Of Reaching Las Vegas Consumers In Their Cars
- ROI: How Las Vegas Small Business Owners Turn Dimes To Dollars
- Learn To Speak Fluent Radio: Advice for Vegas Business Owners
- Is Las Vegas Radio Still Relevant To Local Consumers?