Wedding-related spending increased by 8.5% from the previous year, according to an analysis by the Bank of America Institute. The average wedding cost $36,000 in 2025.

This average cost represents a $3,000 increase from the prior year. The institute's analysis of customer spending involved credit and debit card transactions, along with bank transfer information, to estimate expenditures on various wedding-related services. The transactions included in the estimate covered venue rentals, catering fees, photography, florists, and apparel.

The institute noted that inflation reached 4.2% on an annualized basis in May, marking its highest point in over three years. Tariffs have contributed to price increases for imported goods such as flowers and cocoa.

The study observed variations in spending across different regions, with wedding spending by couples in the South growing five times faster than that by couples in the Midwest. Generational trends indicated that weddings among members of Gen Z have tripled since 2019. In contrast, the number of millennial weddings decreased by approximately 20% during the same period. In terms of purchasing trends, more couples are opting for lab-grown diamonds instead of natural stones for their engagements and other wedding day jewelry.

Context

The rise in wedding-related spending, coupled with an increase in average costs, reflects a shift in consumer behavior and market dynamics within the wedding industry. The influence of inflation and external factors like tariffs on imported goods affects broader economic pressures on consumer prices.

Changes in wedding frequency among Gen Z and millennials signal evolving priorities and financial considerations across different demographic groups. The preference for lab-grown diamonds also points to changing consumer values and market availability within the jewelry sector of the wedding industry.