Wedding spending increased notably even as inflation and tariffs pressured couples to rethink their celebrations. Data through May 2026 show an overall rise in wedding-related expenditures, driven largely by younger generations, notably Gen Z, who remain committed to marking the occasion despite tighter budgets.
Couples are shifting how and where they allocate their funds. While spending on formal attire has risen, many are buying less to avoid one-time outfits. Lab-grown diamonds have gained popularity as a cost-effective alternative to traditional stones, reflecting a trend toward more selective spending rather than cutting out significant parts of the celebration.
According to The Knot’s 2026 Real Weddings Study, the average wedding cost for couples married in 2025 was around $34,200. Factors such as location, season, size of guest list, age, who finances the event, and vendor choices heavily influence final budgets. Peak season Saturdays, larger guest counts, and premium vendors tend to push costs higher, underscoring how quickly expenses can escalate based on these variables.
Economic concerns have led many engaged couples to revise their plans. Over 60% of weddings have budgets impacted by the current economy, and around 80% say inflation has influenced or will influence their decisions. Tariffs were a factor for six in ten couples, with 40% adjusting plans accordingly. This has resulted in tangible cutbacks, including smaller guest lists, simpler floral arrangements and decor, and increased vendor price comparisons.
Despite these adjustments, consumer data from Bank of America indicate that households maintain sufficient financial health to continue supporting wedding spending without significant borrowing. Savings remain stable, helping the industry sustain demand even as couples become more price-conscious and prioritize upgrades that offer clear value.