Wedding industry is accelerating “roll-in”, integration development is a new direction

2022-07-29 0 By

Inside volume, has become a fact of the wedding industry.Head brands and investment institutions covetously, merger and reorganization and other “big fish eat small fish” action has been launched, for some small companies, it is extremely difficult to survive.Wedding industry suffering period wedding, now has become a trillion level of mature market.The four core industries of wedding planning, wedding photography, wedding dress and wedding banquet have given birth to many well-known companies, and other supporting industries such as makeup, hosting, wedding car and xitang wine are also no lack of markets.However, this is a lack of incremental industry: 1. Shrinking market space China’s demographic dividend has come to an end.The number of marriages registered in 2021 dropped to 7.636 million, the lowest since 1986, the data showed.In addition, in the past seven years, the number of first marriages in Our country has decreased by nearly half!From the perspective of the overall environment, China’s current demographic structure has changed: the aging population is increasing, the marriageable population is decreasing, and the fertility rate is decreasing.This means that the size of potential customers in the wedding market will be shrinking for the next 20 to 30 years.2, the high cost of acquiring customers wedding is a one-time consumption, which means that no matter how little the service is, there will be no re-purchase.For the goal of enterprise profit, each order should have enough profit space.But in a fully competitive market, prices gradually become transparent, eroding profit margins.3, serious homogenization you will find that most wedding services are standard packages, rather than standard products can have big profits.In addition to the head of a small number of high-end depth customized services wedding companies, other companies homogenization serious.Without innovation, homogenization is bound to produce price wars.As the market space shrinks, the unit price of customers is increased to ensure profits, and the homogenization seriously produces price war.So wedding enterprises in this dilemma back and forth to find balance.This is the state of the wedding industry: cannibalism, extreme introversion.The whole industry diffuse a mood: since inside roll, that I slowly boil dead each other, the rest of the market is mine!1000 kills and 800 losses are worth it.At present, the wedding industry is in the state of diversified business development, but the whole or scattered.This industry needs to be upgraded, and the needs of young consumers are waiting to be met. A new business model is bound to emerge.In the business world, as in the animal world, the fittest survive.Fight not strength, but the speed of evolution!1, break through homogeneity competition in the marriage market, homogeneity is an inevitable.Want to break out from the homogeneous competition, the core lies in product innovation and brand building.We must realize that we live in the age of algorithms, and the beauty of algorithms is that they can reward those who make the latest innovations in a timely manner.But the biggest problem is that once the whole industry adopts the same approach, the bonus disappears immediately, and no bonus can be extended beyond the opportunity of a year.After product innovation, there will be a large number of imitators, turning the blue sea into the red sea.In the past, you would find that through brand innovation and marketing innovation, we can get a bonus period of about 2-5 years, during which you can rely on your own capital without any problems. But today, on major platforms, the bonus period is no more than three months.Wedding is a natural and easy to generate publicity materials of the industry, every time after a wedding, live video, pictures can be taken out as a case for publicity, most wedding companies will do online operations.In the case of Douyin and Xiaohongshu, many wedding companies often recommend ready-made packages to newlyweds in order to save costs, so that the original props can be reused.In such a situation, your innovation will be quickly imitated and product homogeneity will become more and more serious. At this time, it is crucial to seize the cognitive advantages of consumers through brand building and establish a moat.2, the battle of consumer choice in today, consumers have become the real decision maker, the era of user choice, each business, enterprises, brands competition is also the battle of choice in the heart of consumers.The question must be on every wedding boss’s mind: Why did the couple choose you over the competition?First of all, a good product is a foundation, but the product is not sure to win.But it’s not enough to have a product lead. You have to have a perception lead. Your product advantage has to translate into consumer perception advantage.Nearly 40 percent of the post-1995 and post-2000 generation are willing to speak up for brands they support, according to survey data.Using brand consumption to express personality and attitude is the unique consumption concept of generation Z.In the era of excess, in the era of consumer sovereignty, the competitiveness of enterprises is brand recognition.When your product advantage doesn’t translate into consumer perception advantage, you just can’t sell.When you don’t have the brand mentality to differentiate yourself from your competitors in the consumer mind, it’s only a matter of time before you get into a price war, a sales war, a traffic war.In the future, “Wedding +” will be a new direction of industrial integration.Wedding celebration and cultural travel, scenic spots, b&B and other integration, so as to build a rich business, mutual integration, synergistic sustainable business ecology, to achieve flow co-creation.The scramble for resources in the wedding industry has already started!As the development of competition, capital, resources will gradually head enterprise aggregation.In the development of wedding market, not necessarily single development is the best, sometimes the integration of market and industry will bring unexpected results, integration development is the general trend.Marriage industry single soldier war no way out!Only enterprises with win-win consciousness and integration ability can have a future.