Wedding businesses in New Mexico are being pressured to adapt as rising inflationary costs continue to impact the country, according to KRQE.
Businesspeople like Taylor Fail, the owner and lead planner for Lace and Bow Bridal Events in Albuquerque, said that rising costs are prompting couples to reconsider their wedding budgets.
"Certain vendors – pretty much every vendor in the industry – is having to increase their prices to accommodate inflation, which then is causing couples to have to increase their budget," Fail said. "So, we’re all being affected by inflation right now."
She said the cost of every component of a wedding has increased, including cakes, flowers, and event locations.
Maria Mendoza, a wedding organizer with Mosaic Event Management and Old Town Farm, noted an increase in weekday wedding bookings rather than weekends.
"I see that a lot of people are compromising the Monday to Wednesday wedding because they get to save some money," she said. "And not only with us; I think all the vendors will be cheaper because it's a Monday through Wednesday."
Weekday bookings at the Old Town Farm venue have increased by approximately 20% within the last year, KRQE reported.
Wedding planners and organizers recommend that couples evaluate which wedding components are most significant to them so that they can adapt their budget accordingly.