How Pinterest Is Changing The Wedding Industry.
Modern wedding planning has transitioned from flipping through wedding magazines to scrolling through pinterest and its pages of “wedding inspirations.” With the rise of social media within the wedding industry, It has become easier and more accessible for busy, full-time millennials to plan their perfect wedding. This app benefits both the bride-to-be and wedding businesses because of its ability to offer small-businesses easy publicity and opportunity for content to go viral. The wedding industry is valued at $53.4 million as of 2013, and Pinterest will make it possible for smaller business to enter this massive market because of its ease and accessibility. The sharing of ideas and photos is now offered to anyone with a phone, contrasting the limited publicity offered by select wedding magazines from the age before Pinterest.
There are always negative effects as a result of change. Pinterest can create unrealistic wedding aspirations. Since the Pinterest app operates without including any price points, a user can create their ideal wedding board that ends up being 3-6x over budget. As of 2018, the average cost of a wedding was $22,000 and many millennials do not have the budget to spend beyond that amount as they find themselves squeezed with student loans and saving for a home which has become increasingly difficult. As with any problem, there is opportunity. Wedding vendors can offer inexpensive substitutes or DIY solutions to satisfy their customers.
Since its founding in 2009, Pinterest has ignited the DIY wedding and shoe-string planning scene. In 2018 searches for “budget-friendly weddings” increased by 80%. This trend in money-saving-tricks encourages the use of local resources such as locally grown flowers and local restaurants for catering. This trend opens the door for niche wedding businesses to emerge, think vintage furniture rentals, and experiential rentals like mobile bars.
More and more weddings are nature themed and taking place outdoors. Searches for “destination mountain weddings” increased by 32% and searches for “back garden weddings” increased by 441%, further demonstrating the influx of outdoor weddings for the future. The emphasis on the great outdoors and the environment also translates to an increase in “sustainable wedding ideas” by 181% from 2018. Wedding parties are becoming more conscious on their environmental impact so they turn to Pinterest for inspiration. Many weddings are using recycled paper for menus, placeholders, and invitations to decrease their overall waste consumption. The use of recycled mason jars and tin cans as table settings or decorations are also popular and sustainable options that are getting more traction. Further, outdoor weddings require wedding equipment rentals with delivery and setup services, which has led to an explosion in wedding rental businesses like MyWeddingArch.com (a customer of ours).
The large network of Pinterest users who share on the app have also changed the image of “the classic bride”. Pinterest has turned into a destination where women (and men!) of all shapes and sexual orientations can find wedding inspirations. Wedding magazines that were popular in the 1980’s and 1990’s contained little / no representation for women who needed dress sizes larger than an 8 and for women who were in “non-traditional” relationships. However, in 2018 searches for “wedding dresses for curvier brides” increased by 2113%, opening a huge market for dress designers. Searches for “wedding lesbian suits” increased by 1666%! With the use of Pinterest, formal-wear designers can pinpoint open areas in the market and profit from filling their needs.
Although Pinterest can form unrealistic wedding aspirations, this app can help companies in the wedding industry meet the demands of its customers. Similar to Facebook and Twitter, Pinterest now lets marketers access data collected on its users. According to Salesforce.com, one of the few marketers granted access to Pinterest user data, Pinterest has become a key strategic component for many corporate marketing campaigns. This high influx of data on searches, repins, likes, shares, and comments gives companies access to how their products are performing and what the Pinterest community is looking for in the future.
With the use of this Pinterest data, information on trends can help rental businesses foster and grow within the wedding industry. An increase in outdoor and backyard weddings will require the use of a rental tent company and other outdoor rental goods. With the use of Recipi, these rental companies can grow their businesses to develop a strong digital presence and enter the wedding industry with the tools to take take advantage of market trends.
Recipi Helps Rental Businesses Grow Our team has a unique mix of rental experience and digital marketing expertise. We offer a free "rental business recipi," which is a report with recommendations, insights, and resources to help rental businesses improve their web marketing and grow. Go to Recipi.com to get your rental business recipi today.