Sure, Costco AND Wal-mart are known for savings on everyday items like a 36-roll pack of toilet paper and $4 prescriptions. But can you trust a warehouse club or big-box retailer when it comes to your wedding?
Discount retailers have been breaking into the wedding business, offering products at a fraction of the price you'd pay at bridal boutiques or florists. Costco (COST) is turning into a one-stop shop for brides and grooms, carrying everything from engagement rings to honeymoons in Tahiti. In the last year, Wal-Mart (WMT) extended its relationship with Martha Stewart to include a wedding collection complete with invitations, albums and other nuptial-related accessories. Sam's Club (owned by Wal-Mart) now devotes a section of its web site to wedding products, and says it’s expanding its selection. Even supermarket chains like Publix, Acme and Albertson’s are getting into the business, selling wedding cakes.
All of this comes as many engaged couples are scaling back on their big-budget weddings. This year couples are expected to spend an average of $20,400 on their weddings, down 6.5% from 2008, and a 29% drop from 2007's average of $28,700, according to The Wedding Report, a market research firm.
Of course, there are some trade-offs to buying your invites at Wal-Mart or your flowers at Costco. When you go to a printing shop or stationery store, a professional walks you through every step of the invitation process, helping you select paper, ink color, wording and font style. Getting your invitations from Wal-Mart, though, is a solo – and more time-consuming – effort, says Robyn Bruns, owner of Red Letter Event Planning in Chicago. “You need to give yourself a lot of time, and you need patience to do them. I’ve had brides start out doing it themselves and [then later give] up,” she says.
The good news: Most guests won't be able to tell the difference between invitations from Wal-Mart or specialized ones from a printer. “You don't have to sacrifice on quality or style because the options are on trend and well-priced,” says Jamie O’Donnell, a wedding planner in Orlando, who buys from discount stores for both her higher-end and more budget-minded customers.
SmartMoney decided to go shopping with some wedding planners to find out which offerings are worth buying at discount stores like Costco and Wal-Mart, and where to find the best deal.
My wedding cost 2.5k, including everything - food, flowers, DJ, my dress and DH's tux. It was a beautiful ceremony at a lake. I honestly don't know HOW to spend 20k, or even just 10k if I had that kind of money! And I thought we spent more money than we should have, ha!
HIG - only $40 of the $20,000 is an investment in the marriage (I think thats about what a license cost). The other $19,960 is the cost (not investment) of pretty and fun stuff.
Keep in mind that this is the average price and that a few very expensive weddings will skew that high. The median price is much more realistic measure of a typical wedding and median costs are closer to $10-15k range.
Weddings might be one of the biggest rackets out there - especially considering how may ultimately fail. I mean, would you invest 20k into something that had a 50% chance of total loss? Perhaps a jaded way to look at it, but marriage is also a financial agreement between two parties.
in Canada, the average wedding cost 50K