2022 Wedding Industry Survey: A waterfront, garden wedding venue with flowers, plants, and an oversize arch at the end of the aisle.
BUSINESS

The Events Industry Is More Optimistic Than Ever About 2022 and Beyond 

Expert Insights for the Future of this Booming Industry
BY C&C EDITORS / 07 21 22
Photo by Kristen Kilpatrick

Weddings and events are at an all-time high in 2022, and there are no signs of slowing down. To get a better sense of how businesses are handling the demand, we turned to the pros—specifically the event venue and vendor community—and asked them all about the events they’ve been a part of and are preparing for, and exactly how things have changed since the pandemic. After polling more than 200 experts, we learned that there’s a lot of optimism—and additional nuances—about 2022 and 2023 events.

“It’s clear that large scale events are back and bigger than ever,” says Jess Conroy, Founder and CEO, Carats & Cake. “In this market, however, consumers are being more conscientious than ever about how they spend their budgets and venues and vendors are stepping up to ensure they’re part of the solution. Our venue partners and industry vendors are getting booked and are busier than ever before. Our survey results show that couples, while more aware of potential risks and ways to mitigate them, are feeling confident with booking and making their dream event come to life.” 

Our survey results spotted largely positive trends in the industry right now, and an overall revived demand for event services—with some new pivots and priorities, of course. We hope that the insights from this survey can help everyone working in the events industry—and those booking events—better understand the positions of those they’re working alongside.

01

The Wedding Market is “Hot”

People are ready to celebrate, and the numbers don’t lie: 59.9% of event professionals polled feel the wedding market is “very hot” right now, which is illustrated by the fact that 67.3% of businesses shared that they’re fully booked for 2022, and 78.6% have already started booking for 2023. On top of that, 87.4% of respondents said they’re booking for events with 75 or more guests. Similar to the information we found in our June consumer survey, couples are excited about welcoming larger parties to their weddings.

02

Canceling is Rare

A positive sign of the changing times and recovery from the impact that the pandemic had on the events industry, 79.1% of survey participants reported that they have not had any canceled or rescheduled  2022 weddings. This marks both consumers' and vendors’ renewed sense of stability and confidence in moving forward with large scale events.

03

Finances Are More Important Than Ever

With 89.9% of respondents noting that they feel helping their customers manage their budgets is somewhat to very important, spending smarter is on everyone’s minds. As people move away from the pandemic-conscious, microwedding trend, there are still increased concerns about couples’ finances—particularly in light of rising business costs and supply chain challenges—and the terms now being listed in vendor contracts reflect that. Our survey showed that 57.3% of respondents felt that consumers have become more cautious about these areas due to the pandemic. As a result, 41.2% of vendors said they’ve added new service offerings to meet the ever-evolving needs of consumers.

04

Indoor Events Are Back

While many parts of the country saw an increase in the demand for outdoor event spaces during the pandemic (and consequently a decrease in indoor-only events), our survey revealed that indoor venues are indeed being utilized. Most couples are looking for a mix of indoor and outdoor settings, as indicated by the 67.3% of respondents who said they’re working on weddings with a combination of the two. From tents to venues with the infrastructure to host both ways, there’s a clear demand for this variety.

More About Carats & Cake

Carats & Cake is building the fintech platform for events business to better connect with, and serve the needs of, digital and mobile-first customers. We believe that by using modern technology, the very best engineering talent, and a mission-driven approach, we can transform the events industry with purpose-built tools and solutions that enable future growth. Our platform is built on trust and transparency, making it easier for properties to convert sales and align with customer needs every step of the way.

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