M&S Bank reveals wedding season is set to cost guests £800

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The cost of ‘wedding season’ can cost guests nearly £800, as M&S Bank research reveals almost half of Brits (49.45%) will attend up to three weddings a year. And four in 10 Brits say they’ve spent more than they expected to attend a wedding, with the average cost for each guest coming in at over £266.

Paul Stokes, Head of Products at M&S Bank, said: “We know the privilege of attending a wedding far outweighs the cost for many of us, but with wedding season totalling nearly £800 on average, we wanted to look at the costs and see where guests could make some savings.”


The gift
Buying gifts was one of the most expensive elements of attending a wedding, costing guests an average of £79 a time, with people most likely to spend more on their best friends than siblings.

However, the average minimum people expect to spend on a wedding gift is less than you might think, coming in at £25.52, meaning you perhaps don’t need to spend quite as much as you might have thought.


The outfit
Guests will spend nearly £80 each on a new dress or suit and nearly £40 on shoes. Proud mothers of the happy couple will spend £307 on a new outfit, including more than £100 on a new dress, £51 on shoes, £30 on jewellery and £59 on hats and fascinators, as well as other accessories.

Paul Stokes, Head of Products, M&S Bank said, “A new outfit is one of the biggest considerations for any wedding guest when making plans to see their nearest and dearest on the happiest day of their lives, and new M&S Current Account customers will receive a £125 M&S gift voucher, enabling them to purchase a new outfit for the special day.”


The accommodation
A third of Brits have spent more than they expected to at a wedding, with additional expenses like hotels and travel costs. On average, wedding guests spend £50 on their hotels and £34 at the bar.

Friday weddings are now three times as popular as they were a decade ago, which can save guests money on accommodation, compared to weekend weddings.

Cash-savvy bride and grooms have saved thousands by avoiding the weekend for their nuptials; wedding ceremony costs have been nearly halved by thrifty couples from £20,000 in 2007 to £11,400 today.

Paul Stokes added: “Despite the cost, being part of a loved one’s special day is hugely important to most of us, so we wanted to show how guests can make the experience a little more affordable.”


For more information, visit http://bank.marksandspencer.com

Posted: Thursday, 29 June 2017

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