Hatton Jewellers Ultimate Wedding Survey
2022 was a year full of weddings. With both postponed and planned weddings, there were around 350,000 altogether this year. That is why Hatton Jewellers put together a survey asking Brits all about the momentous occasion.
We asked 340 people a series of questions to get an understanding of whether the current economic climate and past events may be impacting the way people are now looking at their wedding. Smaller guest lists, lower carat diamonds and not so lavish wedding gifts may be the way forward for some but a lot of the people asked are still sticking to their dream wedding.
2023 Will Be The Year Of The Budget Wedding
Following two years of Covid postponed weddings, small guest lists, and small budgets have now become the norm. But are people still scaling back on their big day? Or going all out like never before?
Nearly 50% of people would consider reducing their wedding budget
Rising prices are hard to ignore, especially when you are planning a wedding. After the pandemic wedding budgets have gone down but prices have gone up, is there a way in which you can still have the perfect day without spending your life savings?
There has to be some scale back when it comes to planning a wedding. The biggest one being the guest list, with half of Brits stating they would scale back on the number of guests to reduce the cost of the wedding. During the pandemic it was compulsory to have a cut down the guest list, this has now started to become more of a norm even now as we have started to live life without Covid restrictions. Bride and grooms-to-be have come to the realisation that they are wanting to spend their day with their nearest and dearest therefore smaller guest lists and micro-weddings are happening more.
There are many other things to consider when planning a wedding on a smaller budget. Whether you choose to use pre-owned items for certain aspects of the day or even change the time of year for your wedding, find out why choosing a winter wedding is a great option.
It can be hard to try and cut costs on the day of your dreams but there are some very simple and effective ways you can do it without feeling that you are missing out on anything.
7 Ways To Cut Wedding Costs Without Compromising On Quality
- Don't tie the knot on a Saturday
You could save half the price if you are able to tie the knot on a weekday.
- Cut the guest list
Saying your wedding costs £100 per head for food, drink and the venue, if you cut out 20 people you’re already saving £2000!
- Get creative
There are tons of ways you can do some wedding DIY from wedding decorations right up to the cake. Get your creative juices flowing, you might surprise yourself with what you can do!
- Buy second hand jewellery
Accessorise with second hand jewellery pieces either from family members (for your something borrowed) or by checking out some second hand jewellery stores.
- Save on food
Cut back on the variations of food, not only will it save money but will also help even the most indecisive guests choose.
- Simple elegance
Sometimes less is more. All the little things such as printed menus, wedding favours, and so on that can really start to add up. So ask yourself what is absolutely necessary.
- Don't be afraid to negotiate
With a lot of service based businesses there may be room for negotiation and even on the venue. It is worth asking you never know how much you could save.
The Cost of Attending a Wedding Isn’t Putting People off Going
When you think about the cost of attending a wedding you would be surprised by the amount of small things that add up making it a costly event. Our survey found the number of people being put off because of these extra costs is minimal. Yet, nearly half the people from Northern Ireland and Scotland would miss a wedding due to the costs they are having to spend on attending them.
When attending a wedding, over 50% of people end up spending the most money on a new outfit. Stick to these money saving tips for attending a wedding and you’ll never have to miss out on anyone's special day.
How To Save Money When Attending a Wedding
When going, most people spend the most money on a new outfit that you might never wear again. Why not try renting an outfit for the day of a wedding rather than paying for a new outfit and only wearing it once.
Hair and Beauty treatments
Rather than going to a salon for beauty treatments, try and do some at home beauty treatments. Since the pandemic, there are so many more at home treatments out there which are easy to use for a fraction of the salon price. Ask a friend or family member to help with styling your hair or check social media for any new hairstyle tips and tricks.
Transport to the venue
Try and share transport with as many people as possible so you can split the price between you all. If possible you could take public transport as an alternative. In the evening pre-book a taxi so you have a set price.
As soon as you receive the “save the date” with the venue, start looking to book accommodation, the earlier you book the cheaper it will be. Use comparison sites when booking to know you are getting the best deal.
Over ¼ of People Would Spend 25% Less on a Wedding Gift
Over half of people say the majority of their money goes on a wedding gift when attending a wedding. It is hard to fully understand the gifting etiquette but you don’t always have to spend a lot of money for a thoughtful gift.
Depending on what type of guest you are can determine how much money you could spend on a gift. If you’re an evening guest no gift is really required if you feel awkward without one though the £30-£50 price tag should be sufficient. If you have a full day invitation, a £110 gift is common due to the price per head of a wedding guest.
There are many different options when it comes to saving money on buying a wedding gift. When looking for a gift online there are things you can do to save money, check out our blog 10 ways to save money online for some extra tips. How about pitching a group gift idea to some of your closest friends you might be going with? That way you can split the cost between more people, lowering the individual price for you. Another idea is whether you could offer a service rather than a present. If you are a talented baker, gardener or hairdresser could you offer them skills to the bride and groom instead?
⅕ Of People Still Splash Out On An Engagement Ring
20% of Brits have spent more than £3,000 on an engagement ring. Men are most likely to spend over £3,000 with almost a quarter of men splashing out while women would be most likely to be a little more reserved with their engagement ring budget with almost a quarter spending under £1,000.
A lot of thought goes into the whole proposal process, with picture perfect proposals being planned by people all across the globe. With ring selfies now becoming one of the first things people do after getting engaged, and the hashtag “engagement” having over 23 million posts on Instagram it is not surprising the pressure to get the right engagement ring for that all important selfie. It's no shock that Gen Z and Millennials are willing to spend some extra money on an engagement ring whereas boomers opt for a lower priced ring.
Hatton Jewellers Top Tips For Choosing The Perfect Engagement Ring
When it comes to buying the engagement ring it seems that half of Brits opt for a spontaneous purchase. Choosing an engagement ring on a budget can be a challenging task but by following these simple tips, you’ll be ready to get down on one knee in no time.
Choose the engagement ring metal
Traditionally, the most popular engagement rings are made from yellow or white gold, silver or platinum. Some metals are more durable than others, for example, a 9ct gold ring will be more durable than a 24ct ring. That is why a 9ct gold ring is a popular engagement ring choice as it is durable and more budget friendly.
Choose the stone for the engagement ring
Whilst diamonds are the most obvious option for an engagement ring, there are great diamond alternatives for those trying to keep within a budget. There are other gemstones that are a fun alternative for an engagement ring. They are still durable like diamonds but at a fraction of the price!
Choose the engagement ring setting
The setting of the engagement ring ensures that your all important stone is kept safe and secure. As well as this it also helps the stone catch the light in the best ways allowing the stone to sparkle and reflect in different ways. If your stone is on the smaller side the setting can really help make the main stone look bigger with much better visibility. Want to make sure you’re choosing the right ring for your bride or groom-to-be? take a look at our engagement ring guide.
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