1.2023Market Scale Forecast of Chinese Wedding Industry in

2019 China's narrow wedding industry market size reached.3.742trillion yuan, with a broad market size22.45trillion yuan. Due2020The impact of the epidemic in the year resulted in a significant decline in the number of marriage registrations, resulting in2020China's narrow wedding industry market size fell3.5trillion yuan, the broad market size fell21Trillion yuan. However, as the epidemic in the country is gradually under control, the number of marriage registrations has begun to rise,2022China's narrow wedding industry market size breakthrough4trillion yuan, the broad market size exceeds24trillion yuan.

In 2023, the core market transactions of China's wedding industry mainly include wedding gifts, wedding banquet planning, wedding dresses, wedding banquets, travel weddings, etc. Among them, the wedding banquet planning market size is expected to exceed2Trillion yuan, accounting for about50%The size of the wedding dress market is expected to reach1Trillion yuan, accounting for about25%; Wedding banquet market size is expected to reach0.8Trillion yuan, accounting for about20%; travel wedding market size is expected to reach0.4Trillion yuan, accounting for about10%The size of the wedding gift market is expected to reach0.2Trillion yuan, accounting for about5%。

Analysis of the Main Driving Factors Affecting the Growth of Wedding Industry in 2.

Restorative growth of the (I) married population

Married population is the most basic and important factor affecting the development of wedding industry. According to data from the Ministry of Civil Affairs,2021The number of national marriage registrations in763.6Ten thousand pairs, year-on-year growth of about30%The marriage rate is5.4‰, more2019The year has picked up.2022In the first three quarters of the year, the number of marriage registrations nationwide was544.5Ten thousand pairs, down year-on-year.7.49%The marriage rate is3.9‰Left and right. Influenced by the birth peak of the Dragon generation, 2022The number of marriages registered throughout the year increased800About 10,000 pairs, up about5%。

Preliminary projections for 2023 marriage registrations will remain80010,000 pairs, flat year-on-year. This is mainly affected by the following aspects: first, the aging of the population has led to a decrease in the number of people of the right age to marry; second, the new generation's concept and attitude towards marriage have changed, preferring late marriage, non-marriage or flash marriage; third, during the epidemic, marriage registration agencies have been closed or restricted, as well as wedding holding has been restricted, resulting in some couples postponing marriage or canceling weddings.

The promotion of (II) consumption level

The level of consumption is another important factor affecting the development of the wedding industry. With the development of social economy and the increase of residents' income, people's requirements for the quality of life are getting higher and higher. According to the National Bureau of Statistics,2022The per capita disposable income of urban residents nationwide in49283Yuan, year-on-year growth3.9%; per capita disposable income of rural residents is20133Yuan, year-on-year growth6.3%。2021Affected by the epidemic, the per capita disposable income of urban residents nationwide was43400Yuan, year-on-year growth1.7%; per capita disposable income of rural residents is17269Yuan, year-on-year growth7.9%. Expected2023With economic recovery and policy support, the per capita disposable income of urban residents nationwide will reach52000yuan, year-on-year growth5.5%; per capita disposable income of rural residents will reach21500yuan, year-on-year growth6.8%。

Since marriage is an important event in life, most couples are willing to invest more money and energy in it.2019The average amount of money spent on weddings by Chinese couples in13.5Ten thousand yuan, including hotel, catering, photography, planning, clothing, jewelry and other aspects of the cost.2020As a result of the outbreak, the average amount of money spent on weddings fell12.5Ten thousand yuan.2022With the recovery of consumer confidence and the release of consumer demand, the average amount of money spent on weddings will rise14About ten thousand yuan. Therefore, the improvement of consumption level will bring higher market value and consumption upgrade space for the wedding industry.

Diversification of (III) consumption demand

Consumer demand is another important factor affecting the development of the wedding industry. With the change of social culture and the renewal of people's consumption concept, the new demand for wedding is becoming more and more diversified. The needs of Chinese newlyweds for weddings are mainly concentrated in the following aspects: one is the sense of ceremony. The newlyweds hope to express their respect and gratitude for love and family through the wedding, and at the same time, they also hope to get the blessing and recognition of relatives and friends; the second is emotional expression. I hope to show my personality and love story through the wedding, and also hope to share my happiness and happiness with relatives and friends; the third is personality, the couple hopes to show their taste and style through the wedding, but also hope to be different and create a unique wedding.

Affected by the epidemic in 2020, the new couple's demand for weddings has changed, mainly in the following aspects: first, safety, new couples pay more attention to epidemic prevention measures and sanitary conditions for weddings, and at the same time, they are more inclined to choose small-scale and high-privacy wedding forms; second, practicality, new couples allocate wedding budgets more rationally, and at the same time pay more attention to the cost performance and quality assurance of wedding services; third is creative, newcomers are more interested in the novelty and fun of the wedding, and are more willing to try different wedding themes and forms.

With the improvement of the epidemic prevention and control situation and the recovery of consumer confidence, the new couple's demand for weddings will continue to diversify, mainly reflected in the following aspects: first, environmental protection, new couples pay more attention to the impact of weddings on the environment and social responsibility, and are more inclined to choose low-carbon, green and sustainable wedding methods; second, culture, new couples pay more attention to the cultural elements and traditional customs in weddings, at the same time, they are more inclined to choose wedding scenes with regional characteristics, ethnic customs and historical details; third, scientific and technological, new couples prefer to use scientific and technological means to enrich and beautify the wedding effect. at the same time, they are also more inclined to choose wedding services with intelligent, digital and interactive characteristics. Therefore, the diversification of consumer demand will bring more market opportunities and innovation power to the wedding industry.

Expansion of (IV) consumption scenarios

The consumption scene is also an important factor affecting the development of the wedding industry. With the change of social life style and the improvement of people's aesthetic concept, the choice of wedding scene is becoming more and more diversified. The choice of wedding scenes for Chinese couples mainly focuses on several types: one is the hotel banquet hall, which accounts58.7%, Is the most traditional and mainstream wedding scene, the main advantage is convenient, professional and standardized; the second is the characteristic venue, accounting19.8%, Is the latest trend and the most personalized wedding scene, the main advantage is characteristic, atmosphere, creative; the third is the destination wedding, accounting11.9%, is the most romantic and high-end wedding scene. The main advantages are scenery, experience and commemoration. Fourth, other venues, accounting9.6%Including restaurants, clubs, churches and other types of wedding venues, the main advantage is that there are characteristics, emotional appeal, there are choices.

As a result of the epidemic in 2020, the couple's choice of wedding scenes has changed, mainly in the following ways: first, the proportion of hotel ballrooms has dropped51.2%The main reason is that some hotels are closed or restricted due to the epidemic, as well as concerns and circumvention by newcomers about crowded places;23.4%The main reason is that some special venues have introduced preferential policies and flexible arrangements because of the epidemic, and are also favored and pursued by new couples for small-scale, high-privacy places; third, the proportion of destination weddings has dropped9.8%The main reason is that some destinations are blocked or restricted due to the epidemic, as well as new people's concerns and abandonment of cross-regional travel. Fourth, the proportion of other venues rose15.6%The main reason is that some other venues provide more choices and services because of the epidemic, and are also tried and loved by newcomers to different types of venues.

With the improvement of the epidemic prevention and control situation and the restoration of consumer confidence, the new couple's choice of wedding scenes will continue to diversify, mainly reflected in the following aspects: First, the proportion of hotel banquet halls will rise55%The main reason is that some hotels will resume normal operation and reception, and at the same time, they will also be valued and recognized by the new couple for the traditional wedding form; second, the proportion of characteristic venues will be maintained20%The main reason is that some characteristic venues will continue to provide high-quality services and creative solutions, and at the same time, they will also be expected and pursued by the new couple for individual wedding forms; third, the proportion of destination weddings will rise15%The main reason is that some destinations will lift or relax travel restrictions, and at the same time, they will also be longed for and enjoyed by new couples for romantic wedding forms. Fourth, the proportion of other venues will drop10%The main reason is that some other venues will face more competition and challenges, as well as new people's choices and preferences for different types of venues. Therefore, the expansion of the consumption scene will bring more market space and differentiation advantages to the wedding industry.

Innovation of (V) Consumption Forms

The form of consumption is the last important factor affecting the development of the wedding industry. With the progress of social science and technology and the improvement of people's creative consciousness, the new couple's choice of wedding form is becoming more and more innovative. The choice of wedding forms for Chinese couples is mainly concentrated in the following types: first, traditional weddings, accounting43.2%, Is the most common and most conservative wedding form, the main feature is to follow traditional customs and procedures, pay attention to the sense of ceremony and etiquette norms; the second is lightweight wedding, accounting25.6%, Is the simplest and most convenient form of wedding, the main feature is to simplify the wedding process and links, pay attention to practicality and economy; the third is to deepen the wedding, accounting18.7%, Is the most in-depth and most meaningful form of wedding, the main feature is to deepen the content and theme of the wedding, pay attention to emotional expression and personality embodiment;12.5%, Is the most innovative and interesting wedding form, the main feature is to increase the wedding interaction and participation, pay attention to atmosphere creation and fun sharing.

In 2020, affected by the epidemic, the choice of wedding forms for new couples has changed, mainly in the following aspects: first, the proportion of traditional weddings has dropped38.4%The main reason is that some new couples have canceled or reduced some links and ceremonies of traditional weddings because of the epidemic, and are also affected by the aesthetic fatigue and changes of new couples to traditional wedding forms. Second, the proportion of lightweight weddings has increased28.8%The main reason is that some newlyweds have chosen a simpler, more trouble-free and safer wedding form because of the epidemic, and are also rationally recognized and favored by the newlyweds for lightweight wedding forms; third, the proportion of deepening weddings has risen21.6%The main reason is that some new couples cherish and appreciate their love and family more because of the epidemic, and at the same time, they are also affected by the emotional needs and pursuit of deepening the wedding form. Fourth, the proportion of interactive weddings has dropped11.2%The main reason is that some new couples have reduced the invitation and participation of relatives and friends because of the epidemic, and are also worried and avoided by the new couple's risk of interactive wedding forms.

With the improvement of the epidemic prevention and control situation and the restoration of consumer confidence, the new couple's choice of wedding form will continue to innovate and develop, mainly reflected in the following aspects: First, the proportion of traditional weddings will rise40%The main reason is that some new couples will resume or make up for the traditional wedding links and ceremonies that were canceled or reduced before, and will also be recognized and respected by the new couples for the traditional wedding forms. Second, the proportion of lightweight weddings will remain25%The main reason is that some newlyweds will continue to choose simpler, more trouble-free and safer wedding forms. At the same time, they are also considered by the newlyweds for the practicality and economy of lightweight wedding forms; third, the proportion of deepening weddings will remain20%The main reason is that some newlyweds will continue to deepen the content and theme of the wedding, and at the same time, they will also be expected to deepen the emotional expression and personality of the wedding form. Fourth, the proportion of interactive weddings will rise15%The main reason is that some new couples will increase the invitation and participation of relatives and friends, and at the same time, they will also enjoy the atmosphere creation and fun sharing of interactive wedding forms. Therefore, the innovation of consumption forms will bring more market changes and competitive advantages to the wedding industry.

3. Conclusion

In summary, the following conclusions can be drawn:

In 2023, the market size of China's wedding industry will reach4.5Trillion yuan, year-on-year growth of about10%, in which the narrow wedding market size will exceed4Trillion yuan, the broad wedding market size will exceed24trillion yuan.

The growth momentum of the wedding industry mainly comes from the following aspects: First, the recovery of the marriage population growth, affected by the epidemic and delayed marriage of new couples will be in.2023The second is the improvement of consumption level. With the increase of residents' income and the improvement of quality of life, the budget and quality requirements of wedding services for new couples are increasing year by year; the third is the diversification of consumer demand, and new couples have higher expectations and pursuits in terms of wedding ceremony, emotional expression and personality expression; the fourth is the expansion of consumption scenes, In addition to the traditional hotel banquet hall, newlyweds are more inclined to choose characteristic venues, destination weddings and other ways to hold weddings; fifth, the innovation of consumption forms, newlyweds are more willing to accept new wedding forms such as lightweight, deepening and interaction, and pay more attention to the choice of wedding peripheral services and derivative products.

In 2023, China's wedding industry will usher in a stage of rapid development and high-quality development, and will also face a stage of diversified and differentiated development.2023China wedding industry market competition pattern will present the following characteristics:

The first is the increase in brand concentration. High-quality brands will occupy more market share through scale expansion, channel expansion, and service improvement. At the same time, they will also increase customer loyalty and re-purchase rate through brand building, word-of-mouth communication, and customer maintenance.; The second is the increase in subdivisions. According to different consumer needs, consumption scenarios, consumption forms, etc., more subdivisions and market segments will appear, at the same time, there will be more professional, characteristic and customized wedding services and products; third, cross-border integration will be strengthened, and the wedding industry will carry out more cross-border integration and cooperation with tourism, catering, culture, science and technology and other industries. at the same time, it will also learn from and introduce advanced concepts and innovative technologies from other industries to enrich and enhance the connotation and value of wedding services and products. Fourth, online and offline integration is deepened, the wedding industry will make full use of platforms and tools such as the Internet, mobile Internet, and social media to realize the functions of online display, promotion, booking, and evaluation of wedding services and products. At the same time, it will also use offline experience, service, and delivery. In order to realize the offline realization, satisfaction, and guarantee of wedding services and products.

Champs advice, wedding industry practitioners and investors should grasp the good2023In order to realize the sustainable development and high-quality development of the wedding industry, we should actively respond to market changes and competitive pressure, and constantly improve our core competitiveness and market influence. Specifically, efforts can be made in the following areas:

The first is to strengthen brand building, establish a good reputation and image by providing high-quality services and products, and increase customer awareness and trust; the second is to expand market channels, by opening more stores or franchise stores, covering more Regions and customer groups, increase market share and coverage; the third is to innovate service models, through the use of more online and offline integration methods, provide more convenient, more efficient, and more personalized service experience to increase customer satisfaction and loyalty; the fourth is to enrich product categories, and provide more diversified, more characteristic, and more characteristic through the development of more segments and market segments. More customized product choices to increase customer demand and love; fifth, strengthen cross-border cooperation, through more cross-border integration and cooperation with tourism, catering, culture, science and technology and other industries, we can provide more diversified, valuable and meaningful wedding programs, and increase customers' expectation and enjoyment.