Bridalwear grooms new strategies
Retailers in overcrowded US apparel industry eye opportunities in mid-tier wedding sector
Bangalore, Maine : The crowded US apparel industry rarely gives companies a chance to explore new concepts, but retailers are now waking up to a mid-tier wedding market as they try to offer brides-to-be the dress that won't cost the moon, but still make heads turn.
For an apparel industry burdened with too many stores from too many brands, this untapped market gives retailers a chance to expand and make a few extra dollars in the process.
Earlier this month, Urban Outfitters said it would launch a new line catering to wedding shoppers, while White House Black Market, owned by Chico's FAS, also unveiled a wedding collection.
J. Crew Group too announced plans to launch its first dedicated wedding shop, to act as a platform for the company's wedding products.
And while the concept is not likely to boost revenues remarkably, FBR analyst Adrienne Tennant said "[retailers] have just started to recognise that there are dollars there to be spent."
"It's an opportunity to fill an under-serviced niche and they recognise it."
National chains
Till now, companies like Ann Taylor and J. Crew have been among the very few national chains that cater to this market.
Bridal wear, part of the $45 billion US wedding industry, ranges from high-end designer wear like Vera Wang to off-the-rack options, but leaves a wide gap in the middle.
Sherrie Mathieson, a New York-based style consultant who has worked with celebrities like Brooke Shields and Billy Joel, agreed that "there seems to be nothing much in the in-between market".
And with consumer spending slowly coming back, it seems like a good time for apparel companies to focus on this market.
"Some clients will always have money for what they want, but others are dependant on the economy," Mathieson said.
"But things are getting better and it reflects in their buying."
The average cost of a wedding in the US, which has been dropping since 2007, is expected to remain flat at about $20,000 in 2010, according to Wedding Report, a research firm that tracks and forecasts wedding market trends.
