Type: Business
Pages: 4 | Words: 1116
Reading Time: 5 Minutes

U. S. wedding dress rental business is designed specifically for the needs of bridal couples, which have limited financial resources, or do not want to spend money for a wedding dress considering this as a waste of money. Wedding dress is known as a kind of tradition and many brides do not care about it anymore. Therefore, brides or their parents decide to rent a wedding dress instead of buying it to wear once.

Market Trends of Wedding Dress Rental Business

Market segmentation, if properly developed, can give wedding dress rental business commercial advantage and attract more customers. Weddings are usually rather expensive events for low and middle-income families. Traditionally, parents of the bride are responsible for wedding dress. Many individuals do not want to spend money for unnecessary expensive wedding dress. The U.S. wedding rental business is a good solution to this problem. Lately it has become a new trend for the wedding couple to be responsible for the wedding dresses instead of their parents. The young couples rely on wedding rental business, considering it to be a proper decision to cut their expenses for wedding parties, which may cost around $20,000 – $30,000. It is evident that most of the wedding couples are young and prefer to spend the money they have for more useful things, such as wedding rings and honeymoon. In cases, when the attendees are responsible for the wedding dress, they would likely also choose the rental option. If the parents of the bride are responsible for the wedding dress, they realize that the money could be spent on some other more meaningful expenses. Thus, having a choice rather to buy or rent a wedding dress, most brides, attendees or parents prefer rental services.

Target market segment strategy is provided through different advertising campaigns in the media, TV, the Internet, and other sources, which determine success of the U.S. wedding dress rental business. Local newspapers are a good source to find appropriate services in different sections. The Internet websites are offering different announcements regarding wedding dress rental services. It has become one of the best sources of information where it is possible to observe all wedding dresses and to make the right choice. The yellow pages are another useful source of information. It is up to the customers to choose what kind of research guides would be most helpful. Though, it is evident that wedding dress rental business is targeting different strategies in order to satisfy customers` needs and desires with quality services and products. Regardless what kind of target market segment strategy is chosen, it is important to understand how it works in order to promote the business.

In order to define market needs of wedding dress rental business it is important to focus on buyer needs that are supposed to be satisfied in a professional and effective manner. It is, therefore, essential to identify what kind of wedding dress customers need. For example, style, color, and prestige for wedding dresses must be taken into consideration. Social status, ethnical and cultural varieties can also define market needs. Many brides in the United States are accustomed to wear traditional long, white dresses. However, some brides prefer to rent traditional costumes from their countries.

It is important to understand and explain market trends. There could be different factors that may change the market or business. Market trends could be changes in customer needs and wants, new trends in fashion and style, demographical changes, and others. It also depends of social status and backgrounds of the customers. Market trends require to get ahead in order to identify future trends and needs of the consumers. Those in wedding dress rental business are prone to understand and explain market growth in each segment. Market experts and management system will be rather helpful to identify market growth. Market growth in wedding dress rental business may be rapid, if prices satisfy customers. Therefore, discount prices will attract more customers.

Weddings are estimated as a $40 billion annual industry in the USA today. It is comprised of wedding dresses for brides and tux rental for grooms, as well as any other wedding apparel in order to satisfy customers` needs during their preparations for wedding parties. Bridal gown rental has become a perfect option for brides and has won the recognition all over the USA. It is rather beneficial to rent a wedding dress in specialized stores, where one can choose a dress from a much wider selection of gowns and dress designs.

It is worth mentioning that wedding industry is seasonal and local. That is why wedding dress should be promoted on time. In order to improve business flow of wedding dress rental business, it is essential to realize customer enthusiasm and excitement. This type of business is very much dependent on local customers and their incomes. Thus, it is important to win the loyalty of local customers. Every action one takes in building wedding dress rental business must court local customers. The research asserts that to be successful, business owners must craft a business identity that incorporates a commitment to community stakeholders.

Wedding industry participants are various establishments that help to organize a wedding event. These sub-groups include jewelers, wedding invitations cards, bakeries for the wedding cake, wedding transportation, planning services, wedding and banquet locations, event photography and others. Thus, wedding ceremonies need a lot of participants. The USA is a multinational country, and that is why there are different traditions and customs that are involved in the ceremonies.  The individuals` incomes and consumer preferences are of paramount importance for U.S. wedding dress rental business. The competition within the industry is rather steep, because there are many participants. Some businesses specialize in one wedding service, while others may offer a couple of them. In order to succeed in the business, it is important to investigate the market and analyze the marketing mix satisfying customers` needs and wants with quality services and products.

A Wedding Dress Rental Business as a Home Business

A wedding dress rental business is relatively easy to start as a home business. It is important to find a proper location. It is a good part-time preposition. Making research of the area, its opportunities and type of residents is rather important. Weddings are a part of people`s life that occur rather often, and if properly organized, it could be rather successful.

In conclusion, it is worth noting that the demand for wedding services gives the possibility for those, who are in wedding dress rental business, to succeed in the market and get good profit. The U. S. wedding dress rental business is designed specifically for the needs for bridal couples, which have limited financial resources, or do not want to spend money for a wedding dress.

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