If you feel like you have more wedding invitations stacking up than usual heading into the New Year, you’re not alone. 2022 is set to see the most weddings in nearly forty years.
But not everyone is making the guest list. Once a staple in wedding culture, Bed, Bath & Beyond is quickly losing its grip as the go-to spot for gift registries, and one ecommerce giant is taking its place.
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The pandemic resulted in 50% fewer weddings in 2020 than the year before, and 20% of couples planning 2021 nuptials postponed until this year. Now, 2022 is set to see 2.5 million American couples tie the knot— the most since 1984.
New research from Baird, however, shows one of the wedding industry’s key profit machines — Bed, Bath & Beyond — will play home to 30% of wedding registries this month, a 14% tumble from the company’s top place ranking in 2017. The new leader is unsurprising:
- Amazon sits atop the wedding registration throne, home to 45% of listings. In 2017, the e-commerce giant only earned 20% of newlyweds’ registrations.
- Target is in third place with a 26% listing share, while Crate & Barrel and Williams-Sonoma each hold a 15% market share.
It’s not just the initial registration that counts, analysts say. A satisfying registration experience often wins retailers brand loyalty with newlyweds, traditionally high-value customers who follow weddings with even more major (read: costly) milestones, like buying things for a new house or a new family. Winning the registration bid can lead to a years-long honeymoon phase, so to speak.
Wedding Cashers: Speaking of honeymoons, e-commerce isn’t the only threat traditional retailers face in the wedding-gifting space. Increasingly, millennial and Gen Z newlyweds are skipping registries entirely, opting instead for cash or contributions toward honeymoon funds. Baird found cash and travel funds earned 16% of listing penetration this month, up from 10% in 2017. The big winner is