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Wedding services market: Challenges and opportunity for revival

Summary/Abstract: The wedding services market was severely affected by the COVID-19 pandemic. The activities of caterers were restricted, so they were forced to cancel organized celebrations such as weddings. The stagnation in the wedding services market was also exacerbated by the outbreak of the armed conflict in Ukraine, but a decline in the number of new marriages had already been observed before these events occurred. The purpose of the article is to identify the main problems and challenges for wedding service providers in a stagnant environment, as well as to find an answer to the question: Is there a chance for the wedding service market to recover? To achieve the objectives, a literature study method was used and a survey was conducted using in-depth IDI interviews with 12 wedding services market experts. The results of the survey indicate that there is little chance of a revival in the wedding services market. According to respondents, the number of wedding receptions will continue to decline, as will their length, and some service providers will lose their jobs. Respondents acknowledged that the main problem they face in the wedding services market is that supply outweighs demand and there is a lot of (often unfair) competition involved. In order to stay in the market, service providers should take care of marketing, especially that conducted through social media.

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