Should I Target the Luxury Wedding Industry?



So often I hear business coaches saying they are in the luxury wedding industry or new planners saying they want to target the luxury wedding industry so let's take a look at what is deemed as 'The Luxury Wedding'.


Different people have different views as to what is luxury, this applies to weddings as well, this post will explain by just targeting that one end of the market isn't really a great idea.


WHAT IS A LUXURY WEDDING?


Luxury wedding in Ronda

Firstly we look at what constitutes a luxury wedding, how is this quantified? The industry claims this is anything from a spend of £1000 to £2500 per head, of course it can be much more. So let's say you have a wedding of 200 guests spending £2500 per head, this is £500,000, half a million,


Then you have a wedding of 100 guests spending £1000 per head this is £100,000 but the industry standard says budgets over 150K qualify as luxury, so this wedding isn't in the luxury bracket?


I have done weddings of less that 20 guests that have happily spent over 14K just on flowers and decor, but as the wedding was 60k for 14 guests does this mean it wasn't luxury?