Riverwoods, IL, May 14, 2007 –
With wedding season almost upon us, Discover®
Card today released findings from its first annual
Wedding Shopping Survey which examined spending
habits of groomsmen, bridesmaids and wedding guests.
The survey reveals that the average
cost of participating in a wedding party is higher
for men than women. Groomsmen spend an average
of $1,009 on wedding expenses -including
pre-wedding festivities- while bridesmaids spend
an average of $963. Almost half (47 percent)
of past groomsmen and bridesmaids say that they
are happy to take on the financial commitment
and that it is worth every penny. However, slightly
more than half (51 percent) say that they are
less enthusiastic about the costs.
“Wedding
season is a busy time of the year for consumers
and those in the wedding typically spend about
$1,000 to support their friends and family as
they celebrate their big day,” said Margo Georgiadis,
executive vice president and chief marketing officer
of Discover Financial Services. “Whether you're
a groomsman, bridesmaid or guest, we hope that
the Discover Card Wedding Shopping Survey helps
consumers plan ahead for expenses and gifts that
newlyweds want most.”
Wedding
Party Participants Open Their Wallets Wide for
the Bride & Groom The Discover
Card Wedding Shopping Survey's top findings with
regard to groomsmen and bridesmaids include:
• Groomsmen spend on average three
times as much on the bachelor party ($289 per
person) as bridesmaids do on average for the bachelorette
party ($100 per person). However, bridesmaids
incur an average expense of $163 per person hosting
the bridal shower.
• Not surprisingly,
bridesmaids tend to spend more on average for
dress, shoes and jewelry ($197) than groomsmen
do on average for a tuxedo or suit ($132). When
it comes to personal appearance, bridesmaids spend
nearly three times more on average on hair, nails
and make-up ($74) as do groomsmen ($27).
• The average amount for both groomsmen and
bridesmaids to spend on a wedding gift is $234.
• It costs about twice as much to participate
in a wedding as a groomsman ($1,009) or bridesmaid
($963) than it is to attend one as a male ($416)
or female ($393) guest.
The
Perfect Wedding Gift…Giving (and Getting) Has
Never Been So Easy The Discover Card
Wedding Shopping Survey also reveals the following
trends regarding gift giving:
• Good
news for newlyweds. It appears that wedding guests
can read their mind when it comes to gifts. The
top-three gifts that guests prefer to give are
money (39 percent), gift cards (23 percent) and
home goods such as bedding, towels and kitchen
accessories (15 percent). Likewise, the top-three
gifts newlyweds would like to receive are the
same: money (50 percent), gift cards (23 percent)
and home goods (11 percent).
• Surprisingly,
crystal and china - traditional favorites - are
low on the list of what newlyweds would like to
receive these days, garnering only five percent
of the responses. These gifts are equally unfavorable
in terms of what guests would like to give, coming
in at just eight percent.
• Are gift
cards the new Waterford? In addition to coming
in second on both newlywed and guests' gift lists,
47 percent of all respondents would be “thrilled”
to receive a gift card as a wedding gift because
they could buy anything they wanted. An additional
43 percent would be “pleased” to receive one.
• Blood may not be thicker than water
when it comes to wedding gifts. Wedding guests
say it is reasonable to spend $154 on a best friend,
$129 on a family member and $71 on an acquaintance.
About the Discover Card Wedding
Shopping Survey For the Discover
Card Wedding Shopping Survey, a telephone survey
was conducted among a national sample of 1,010
adults (503 men and 507 women). The research
was conducted from February 15 – 18 by Opinion
Research Corporation.
About
Discover Financial Services Discover
Financial Services, a business unit of Morgan
Stanley (NYSE: MS), operates the Discover Card
with more than 50 million cardmembers and the
Discover Network. Discover Financial Services
also operates the PULSE ATM/debit network, which
serves over 4,400 financial institutions and includes
nearly 260,000 ATMs, as well as POS terminals
nationwide. For more information, visit
www.discovercard.com,
www.discovernetwork.com
or
www.pulse-eft.com.
Media Contact Matt
Towson
224-405-5649
matthewtowson@discoverfinancial.com