I first read about “tiny weddings” yesterday – and the lede suggested they are the opposite of consuming big items:
Big SUVs, McMansions and the term “bigger is better” are all things that used to connote living your best life. Now, consumers are shifting to the opposite end of that spectrum, including those who want to tie the knot.
Tiny weddings (aka microweddings) are a growing trend for couples who want to have their special day with less worry and spend less money (think $2,000 to $3,000) at a time when annual reports like those from The Knot state that the national average cost of a wedding is $33,931. The smaller ideal also comes at a time when families are picking up less of the tab for the big day and student-loan debt is infringing on wedding dreams and goals. The tiny wedding limits the numbers of attendees. The average wedding in the U.S. has 126 guests, according to the WeddingWire 2019 Newlywed Report.
But there is a bigger question at play here: is the suggestion correct that Americans are now less interested in purchasing big items? I have heard this for years: Americans are past the garishness and ostentatious purchases of the 1980s through the early 2000s. They learned their lessons about too much debt, too much emphasis on material objects, and the impact on social life. They are now more interested in consuming experiences than items. They want to live simpler, less cluttered lives. Tiny houses are in, McMansions out.
At the same time, with an economy that slowly recovered after the housing bubble of the late 2000s is this true in regards to SUVs and McMansions? Both are expensive, particularly compared to other options in their categories. They both have their critics and these criticisms have dogged them for decades. Yet, both seem to be thriving among the sectors of the buying public that like them. Both appear to have a future. If Americans continue to desire single-family homes and there are still forces arranged to push them toward large homes, McMansions will continue.