From pots to pillows, towels to Tupperware, wedding registries are big business: the chance of getting the wrong gift is next to none, as now most young couples pick out exactly what it is they'd like to receive. That could be household appliances, kitchen wares or sets of sheets and blankets. As more and more couples choose registries, the question for businesses is, is there money to be made in registries? Turns out, there is.
VEBO is a company doing just that, offering registry services and a community of engaged couples also preparing for their big day and building their registries. VEBO allows couples to see what others added to their registry, search for inspiration, or plan a honeymoon getaway. Along with standard registry items, VEBO offers wine tastings, cooking classes and sky diving as options.
Amazon (NASDAQ: AMZN) is also a player in this niche industry, allowing couples to create a list of gifts that are only available via Amazon. Users can see what items are most frequently added to registries and filter items by function or brand. Start-ups, like Zola, an innovator in the field, also play a big part in the registry business. In addition to the standard list of gift options, couples can ask guests to contribute toward the cost of the wedding band or help finance the honeymoon, and you can even gift bitcoin.
Registry services can only continue to grow as contemporary couples seek control over what items will make them a happy home. They want to be in the know about what other engaged pairs are doing, so social media is a crucial element, identifying and spreading wedding trends. Using the Universal Registry app from Amazon couples can take advantage of special coupons and promotions. Recently, they've widened the selection of items available. Gifting trends have changed over recent years, now including, as mentioned before, cryptocurrencies, which is seen as a good investment in couples and their marriage. Think about this: a couple who was gifted Bitcoin worth $100 in 2011 would now have $250,000.
It's clear established registry providers and start-ups have an important market share to battle over. In 2016 the American wedding industry was worth $72 billion. Last year, couples spent an average of $35,000 on their wedding with guests spending an average of $99 on newlyweds (family comes in higher at $127). While there's not a clear market leader so far, Amazon comes in first for the most gifts bought via registry. Unconventional gifts, such as donations to charity in the couples' name, or buying "experiences" instead of gifts, have also gained popularity. The wedding industry keeps on growing, even as the number of Americans tying the knot decreases.