It’s wedding season and the cost-of-living crisis puts Canadian couples under even more stress. A new study shows that when planning their big day, 85% said their biggest worry is the hefty price tag of weddings.
Menswear retailer Tip Top surveyed 1,502 Canadians to find out their biggest wedding planning concerns, and many are scaling back on celebrations big time, instead opting for smaller and more intimate events.
“Your wedding will be one of the happiest days of your life, yet the planning often comes with a lot of anxiety, especially due to rising supplier costs and booked-up vendors,” said Lance Itkoff, CEO of Grafton Apparel Ltd. (Tip Top).
For those recently engaged or married (in the last two years), 57% said that rising costs had forced them to alter their wedding plans.
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Of those surveyed, 28% of couples said they plan to invite fewer guests, and 26% will reduce their budget for entertainment, food, and decor.
Regarding looking their best on the big day, 51% said they’d be using something already in their closet, while only 34% said they plan to buy a new outfit.
Others have taken more radical approaches.
According to the results, 10% said they’d cancel the ceremony and opt for a party or reception, and 12% said they plan to scrap their wedding celebration plans altogether.
So, how do Canadians plan to fund their big day?
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About 77% will be dipping into their savings, while others will put it on plastic.
The survey states that younger Canadians (18 to 34) are 57% more likely to use credit cards for their wedding, compared to those between the ages of 35 to 54 (49%) and those 55 or older (39%).
How have rising costs affected your wedding plans?
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