Fast Fashion Companies Enter Wedding Dress Market
Wedding Dresses Sold at Affordable Prices
Average Wedding Dress Rental Fee Burden of 3 Million Won
Changing Wedding Culture Sparks Trend to Change Formal Wear Too
As the MZ generation (Millennials + Generation Z) in the United States reaches marriageable age, the wedding dress market is experiencing a significant shift. Fast fashion companies are entering the market one after another, allowing brides-to-be to purchase wedding dresses at affordable prices.
On the 12th (local time), Yonhap News quoted CNN, reporting that "recently, American fashion companies are selling affordable wedding dresses for the MZ generation looking to reduce wedding costs." Generally, high-end wedding dresses cost over $1,000 (about 1.37 million KRW). However, fashion companies such as Abercrombie, Forever 21, Boot Barn, Shein, and Lulus are offering wedding dresses for less than $50 (about 68,000 KRW).
Last year, average wedding dress cost in the US was $2,000... This year, affordable dresses are the trend
In March, Abercrombie launched the 'A&F Wedding Shop,' offering over 100 products for brides and guests, including wedding dresses, priced around $80 to $150 (about 110,000 to 200,000 KRW). Forever 21 also released wedding-related products such as dresses and pajamas in April, priced from as low as $9 (about 12,000 KRW) up to $50 (about 12,000 to 68,000 KRW). White dresses suitable for wedding wear are priced in the $20 range (about 20,000 to 30,000 KRW).
Chinese online shopping mall Shein is also selling wedding dresses priced on average between $50 and $100 (about 12,000 to 137,000 KRW), with some up to $200 (about 270,000 KRW). CNN reported that these prices are remarkably low compared to the average wedding dress cost in the US last year, which was $2,000 (about 2.74 million KRW).
Generation Z desires to express individuality in weddings while reducing costs
This change appears to be driven by the MZ generation, especially Generation Z, as they reach marriageable age. Those in their mid-20s from Generation Z have a strong desire to break away from traditional wedding customs, express their individuality, and reduce costs.
Allison Reese, a strategist at fashion market analysis firm Worth Global Style Network (WGSN), explained, "The cost of living crisis has affected Generation Z, and they feel anxious about their financial situation. Fast fashion, which has significantly increased its market share over the past few years, is capitalizing on the demand for more affordable wedding attire."
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