Wedding season arrived this year with significant financial stress for Americans who are continuing to budget amid the current economic turmoil.
“We have continued to see reports over the past few years showcasing the cost of travel, wedding vendors and general goods skyrocket — making inflation an active conversation surrounding wedding season,” said Rakuten’s team of researchers.
“Attending a wedding can be one of the most expensive moments during a woman’s year, especially if they are planning on attending more than one,” said a spokesperson from Rakuten. “When attending a wedding, whether domestic or international, wedding guests are likely to have to account for travel costs, inclusive of flights, hotels, rental cars and more.”
Notably, finding a gift is an opportunity that many of the survey’s respondents said they will use to creatively save. Sixty percent of Gen Z and 40 percent of Millennial women report they will give a wedding gift as a group to save money and nearly 60 percent of respondents from both generations said they will also look outside of the registry for gifts.
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