• ECONOMIC CLIMATE THREATENS WEDDINGS? – Easter means we're just seven weeks from Whitsun, traditional start of the wedding season (highest wedding numbers trace a curve from May to September, with a peak in June). This year's weddings are already booked, but what's going to happen next year? Will engaged couples find it easy to spend? [expand story >>>]
Couples and their parents generally need to draw on savings, and to borrow, to finance weddings and honeymoons. And couples need mortgages and help from Mum and Dad to move into new homes. Mum and Dad often provide this by releasing some of the equity in their own homes. What we're seeing at the moment, though, is that loans and mortgages are becoming very much harder to get. Savings tend to get left where they are too, when there's a lack of assurance about the future.
In recent weeks we've seen lenders surprise borrowers by calling-in their loans and credit cards, and we've seen mortgage deals pulled before completion.
The market for wedding photography, always pressured by the steady decline in weddings, now looks to get just another bit colder and more bearish. Perhaps studios who didn't fill their books this year should think now about diversifying in time for next? [add comment]
Labels: wedding photography
3 Comments:
But if house prices start to fall will there be more money for the wedding.
Also dont forget that photography is considered by some as one of the few must haves, I wouldn't like to be selling chair covers or table decorations, plates for people to sign, a magician walking round the tables over dinner, ballons, invitations, and all the other merchandise that has increased the wedding budget, or worse, nibbled away at the photography budget.
Oh well, the sooner I get my back- garden portrait studio up and running the better! Seriously, I've been thinking of moving away from weddings to portraits for a little while now.
Sadly, there appears to be a trend away from wedding albums as the final product and many couples are requesting prices for only high resolution images on CD. This is therefore cutting down on the wedding photographer's turnover and profit as there is no album and no additional prints.
With the advent of digital, the world and its grandmother have got one and believe they can be wedding photographers. It's not the good business it used to be.
Mike Moran, Ware, Hertfordshire
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