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New survey reveals: The big challenges on the way to the canopy - Walla! Of money

2022-07-06T07:11:37.663Z

After two difficult years under the auspices of the Corona, the industry is preparing for the tumultuous wedding season. A new survey reveals the changes the industry has undergone and how the epidemic has affected married couples in Israel



A new survey reveals: The big challenges on the way to the canopy

81% of couples argue about money, 85% are assisted by parents.

After two years in the shadow of the Corona, the events industry is currently being held for the wedding season, which is expected to break records of demand and expenditure by young couples this coming summer.

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28/06/2022

Tuesday, 28 June 2022, 12:43 Updated: Wednesday, 06 July 2022, 10:05

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A special survey conducted by EasyToGib through the Panels Survey Institute, reveals for the first time the changes the industry has undergone in the last two years, and how the corona plague has affected married couples in Israel.



85% are assisted by parents The number of guests following the corona, 81% of the couples argued quite a bit on the way to the canopy, the main cause of the argument: money!

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81% of married couples argue over money (Photo: PR)

Do everything possible not to postpone the event

The young couples who are excited for the wedding do their best not to postpone the wedding evening, even at the cost of a significant reduction in the number of guests.



The survey, which was attended by 100 couples who have been married in the past two years, shows that 40% of the couples were forced to postpone the wedding, with 15 percent of them delaying the event for up to a year from the original date.

In religious couples the situation is different, where 96% of the events took place on their planned date and were not postponed at all.



At the same time, it can be seen from the data that about half of the events took place in a more limited format, with 30% of respondents answering that they reduced to half the original number of guests, and about 10% claimed to have reduced 90% or more of the number of guests and had a limited wedding.

20% of married couples report cash flow problems (Photo: PR)

Dreaming of profiting from the event but actually getting into debt

The couples, who dream of a new and exciting couple start, also dream of making money from producing the event and saving it for the benefit of future plans they have but in practice many of them get into debt due to the expenses of hosting the event.



The survey shows that 38% of the couples planned to use the event money in order to create initial savings for their life together, with 45% of the respondents saying that before the wedding they hoped at most to cover the wedding expenses.



Despite the good will, the data show that about a third of the couples exceeded the budget, with the majority exceeding about 30%.



By the way - when the corona delayed the wedding, only 55% managed to meet the budget set for them.

30% of couples did not manage a budget to produce the event (Photo: PR)

The parent-sponsored event?

Married people who cannot help with parental funding, take out loans if necessary.



The survey shows that 85% of the couples were assisted by their parents in financing the wedding, with 62% of them indicating that the parents helped to a great or very great extent.



At weddings of older couples aged 30+, there was relatively less help from parents than among younger couples.



The economic issue often becomes a major issue, with one-fifth of the marriages reporting cash flow problems in the pre-wedding period, which is also probably why about 20% of couples had to take out a loan before the event. The parents are the ones who took the loan for the couple.

81% of married couples argue over money (Photo: ShutterStock)

What is being argued on the way to the canopy and who is not willing to give up a financial agreement?

61% of the couples reported that they had prepared for the wedding together, compared to 25% of the couples where the woman was the one who took the lead.



The way to the canopy, according to the survey, is not always easy and simple, and there are quite a few mines along the way, with 30% of couples saying that in the pre-wedding period they argued about financial issues, 14% about choosing the hall, and 11% about seating arrangements.

The



issue of money, by the way, also plays a role in the sector of financial agreements that have gained momentum in recent years in Israel, with 25% of married couples testifying that they have entered into a financial agreement.

Dreaming of going out with a profit and saving for future plans (Photo: Giphy)

Funding at the expense of future gifts

Guy Gior CEO of Easy2Give:

"The survey we conducted ahead of the wedding season shows a clear trend of young couples struggling to finance the wedding, along with a bottleneck of events that were postponed from the corona period and created 30 percent higher demand, compared to the pre-corona period.



" Understanding the new trends led us to Easy To Give, also to make adjustments and service for giving gifts and an app for arrival certificates. On the planning and management of their financial expenses in the most important period, "Gior added.



The innovative research was conducted by EasyToGib, which is currently launching a first-of-its-kind collaboration in Israel, together with the fintech company PayMe, a dedicated digital wallet for married couples who need funding before The event.

Guy Gior: Planning and managing financial expenses during the event (Photo: Lior Kasson)

Easy to give and easy to receive

The wallet will connect the couples to the vendors and halls attached to the wallet, and will allow the couples to pay advances to the various vendors and make payments before the event.

In this way, Easy To Respect seeks to help young couples in one of the main obstacles they face on the way to the canopy.



The couples who are in the preparation stages for the wedding will receive a budget of at least NIS 10,000 to pay to the suppliers, with the refund being made based on the gifts the couples will receive at the event by credit card, using the EasyTo Gib system, which has been working with Isracard and PayMe for 8 years.



The new service is provided to all EasyToGib customers as part of a broad system that helps couples in the preparation stages and includes, among other things, financial tools - digital wallet and budget building system, and organizational tools such as: invited management system, supplier selection, arrival confirmation arrangements



The ambition is that all of the above together will make the preparations for the exciting event much easier, and especially those that allow the couple to keep their finger on the pulse and avoid incurring unnecessary financial expenses.

  • Of money

  • consumption

Tags

  • Weddings

  • Survey

  • Present

  • Wedding season

  • Event

  • events

Source: walla

All business articles on 2022-07-06

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