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Will You Be Affected by the Rising Costs of Weddings?
Wedding Prices GO Up!
The Rising Costs of Weddings 2023
If you’re in the midst of planning your wedding, you’re likely aware that costs can add up quickly. From the venue to the wedding DJ to the catering to the flowers, there are a lot of moving parts to consider. And, as it turns out, those costs are only going up. According to a recent survey of wedding professionals, 70% of respondents said they have or plan to raise their prices by the end of 2022.
The survey, conducted by WeddingPro in April 2022 of 558 wedding pros in the United States, found that 70% of respondents have or plan to raise their prices by the end of 2022. While the average price increase is only 3%, it’s still something that couples will need to take into account when budgeting for their big day.
So, what does this mean for couples getting married? In short, you can expect to see an increase in the cost of weddings in the coming years. But don’t despair just yet! There are still ways to keep your costs under control. Read on for more information and tips for keeping your wedding budget on track.
DJ Pricing On The Rise
So, why exactly are Wedding DJ prices on the rise? There are a few factors at play. First and foremost, inflation plays a role. As the cost of living goes up, so too do business expenses—and that includes the cost of running a wedding DJ business. Additionally, many wedding DJs are starting to bundle other services into their packages (such as lighting and video), which can also drive up prices.
Lastly, it’s important to keep in mind that demand also plays a role in pricing. And right now, demand for wedding DJs is higher than ever before. According to The Knot’s 2021 Real Weddings Study, which surveyed nearly 13,000 US couples who got married last year, 97% of couples hired a wedding DJ for their reception. That’s up from 94% in 2020 and just 90% in 2019.
What Is Inflation?
Inflation is defined as a general increase in prices and fall in the purchasing value of money. In other words, when inflation goes up, your dollar doesn’t go as far as it used to. We’re seeing this play out in the wedding industry in a variety of ways. For example, venues are charging more for weddings because they’re incurring higher costs for things like utilities, insurance, and wages. The same is true for caterers, florists, and other wedding vendors. And guess what? Wedding DJs are no exception.
Another reason why Wedding DJ prices are going up is because the cost of music has increased. When we surveyed DJs about their biggest expense, the most common response was “music.” Specifically, many DJs noted that they’re spending more on licensing fees due to the increased popularity of streaming services like Spotify and Apple Music. In addition, many DJs are investing in new sound equipment to keep up with the latest technology trends. As a result of these higher costs, the average price of a wedding DJ has increased from $1095 in 2020 to $1243 in 2021.
Will You Be Affected by the Rising Costs of Weddings?
Creative Ways to Save on Your Wedding Budget
While rising costs may seem like a cause for alarm, there are still plenty of ways to save on your wedding budget. For example, getting married during an off-peak season or on a weekday can help you secure discounts at popular venues. Additionally, considering a less expensive catering option like passed hors d’oeuvres or a buffet can help you keep food costs down.
Here are a few more creative ways to save on your wedding budget:
1. Have your wedding ceremony and reception at the same venue to avoid paying for two separate locations.
2. Make your own décor instead of purchasing everything from a wedding retailer.
3. Ask friends and family members to contribute their time and talent instead of gifts. For example,
maybe a friend is willing to do your makeup or someone else can DJ your reception.
4. Use artificial flowers instead of real ones – they'll look just as beautiful in photos and you won't have to worry about them wilting in the heat!
5. Buy your own drinks at COSTCO and pay a guy to bartender.
Conclusion
As you start to plan your wedding and budget for all of the associated costs, be sure to factor in a possible price increase for your wedding DJ. While 3% may not seem like much, it can add up quickly—especially if you’re working with a tight budget.
No matter what your budget is, there are ways to make your dream wedding a reality. By being creative and thinking outside the box, you can save money without sacrificing anything from your vision. And, if all else fails, remember that – at the end of the day – you’re marrying the love of your life! That’s what matters.
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Read more about How To Plan the Perfect Wedding, 5 Tips to Save On Your wedding, Top Wedding venues Los Angeles, and more in our Blog.
Will You Be Affected by the Rising Costs of Weddings?
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Rising Costs of Weddings 2023
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