Friday, January 24, 2014

SG Wedding Guru: Will prices of bridal packages in Singapore rise in 2014?

bridal package price 2014
 
Brides-to-be are always asking SG Wedding Guru if the prices of bridal packages will rise in 2014.
 
In our opinion, prices of bridal packages will rise. It is inevitable due to rising labour and land (rental) costs. Our assessment is that prices will rise approximately 5% in 2014 and possibly another 5% in 2015. The rise is kept marginal due to the highly competitive market for bridal services.
 
The good news for Singapore brides is that, unlike wedding banquet prices, the prices of bridal packages can be locked in. What this means is that if you are getting married in late 2014, or even 2015, if you book your wedding package today, your package will be delivered at today's negotiated price. So in a sense, brides can effectively hedge against rising prices.
 
So the short answer is this. Rising labour and land costs makes it inevitable that prices for bridal packages will be higher in 2014 and 2015. The rise will however be marginal and decisive brides can hedge against it by booking their packages early.
 

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