This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wedding Guests Will Spend $109 On Average On Wedding Gifts, But They'll Spend More Or Less Depending On How They Know The Couple. (Photo: Business Wire)

More than 67 million Americans plan to attend at least one wedding this year, and they expect to pony up more money to attend, according to the latest American Express Spending & Saving Tracker. This year, guests expect to spend an average of $592, up 10% from last year and a staggering 75% jump from 2012, with most of the budget going to travel & accommodations ($308) and special attire and accessories ($164). Guests are not the only ones splurging: although most couples still vie to keep wedding costs under control (72% vs. 74% in 2013), many will spend a little more to do a little less as the DIY trend declines, down 5 percentage points from last year.

View/Download the American Express Spending & Saving Tracker

“Weddings can be expensive, whether you’re tying the knot or attending as a guest,” said David Rabkin, SVP of Consumer Lending Products for American Express. “While careful spending continues to be the trend for 2014, consumers on both sides of the equation will shell out more, which bodes well for a variety of merchants in the service and retail sectors.”

From Attendees to Attendants: All Expect to Pay More

As the cost to attend weddings rises, spending on wedding gifts is also climbing. Most guests will spend an average of $109 per gift this year, on par with last year ($108) and up 16% since 2012 ($94). If the recipient is a close family member, the average cost of a gift doubles to $200, up 20% from 2012.

Similar to last year, a third of consumers (33%) will purchase these gifts from the couple’s registry, while another third (33%) will give money. Cash continues to be the preferred gift to receive for 55% of couples, up from 52% in 2013.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs