Coronavirus Crashes Chinese Wedding Market
Zhang Yushuo
DATE:  Mar 11 2020
/ SOURCE:  yicai
Coronavirus Crashes Chinese Wedding Market Coronavirus Crashes Chinese Wedding Market

(Yicai Global) March 11 -- The outbreak of the novel coronavirus Covid-19 has hampered wedding-related services across China, with a myriad of planners and other businesses shutting up shop to cope with the epidemic.

Some 1,912 wedding-focused companies went out of business during the first two months of this year, which is typically peak season due to the week-long Chinese New Year holiday, according to data platform Qichacha. There were 11,546 newly registered companies over the same period, but this was just a third of the total from a year earlier.

Newlyweds in China spent CNY223,000 (USD32,000) on their weddings on average in 2019, three-and-a-half times more than five years earlier, according to a research report published by marriage market specialist Hunjia520 in January. Spending on dresses and planning multiplied five and six times over, according to the report, which predicts marriage expenses will reach CNY3 trillion (USD431 billion) in 2021.

Photographers and dress rental services have had to suspend their business and other companies, including venue operators, car hire firms, hotels, restaurants and honeymoon organizers, have also taken a hit throughout the epidemic.

But despite the outbreak, which is now spreading rapidly across the planet, dating website operator Baihe Jiayuan is optimistic and prepping for the summer wedding season, The Beijing News cited its Chief Executive Wu Linguang as saying.

Some businesses are also offering wedding planning services online to gear up for a rise in demand as the market begins to recover.

Editor: James Boynton

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Keywords:   Wedding,Novel Coronavirus Pneumonia