Episode 50: Luxury Vs. Premium Weddings

Have you ever thought to yourself “It would be so nice to only do 10 weddings a year … as long as they are luxury weddings?” Well, today we are talking about the differences between the Luxury market, the Ultra-Luxury Market and the Premium Market. What does it all mean? Who should you be marketing to? What audience should you be serving? We break it down for you to the nitty-gritty. You may leave this episode with a new outlook on your ideal client! Listen in, Rockstars!

Listen on Apple

Key Takeaways:

• Only 5% of weddings per year are in the Ultra-Luxury tier (budgets of $500,000 +)
• Luxury Wedding budgets fall between $96,000 – $500,000, with the highest percentage of those weddings falling in the $125,000 – $250,000 range.
• Millennials don’t like the word “luxury”, consider taking it out of your branding.
• Show the “luxury” in the quality and style of your work, but please don’t call yourself “luxury”

We Mentioned:
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• Splendid Insights
• 5 Facts About Luxury Weddings – Think Splendid
• Here’s How Much the Average Wedding in 2018 Cost—and Who Paid – Brides
• Study: Millennials Eschew Luxury Brands
• Marcy Blum
• Oh So Inspired Conference Recap

**BOOK CLUB**
(This section contains affiliate links)

We are reading “The Big Leap” for our very first book club selection, and will discuss it during our April 24 episode! If you would like to read along with us, you can purchase a copy of the book through Amazon here:

• The Big Leap – Gay Hendricks

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