Honeyfund 2023 Recap: Top Trends in Honeymoons, Registries, and Wedding Gifting
As we say goodbye to 2023, we’re unveiling some of the key trends that have shaped the landscape of Honeyfund weddings and honeymoons. At Honeyfund, we don’t just observe these trends; we intimately understand them through our couples. As the most trusted honeymoon and cash registry, our insights reflect a deep connection with our couples and their preferences. From the allure of Italy to evolving wedding gift preferences and a glimpse into the future, here’s our comprehensive wrap-up.
Italy Steals the Honeymoon Spotlight
Italy has become the favorite of honeymoon destinations, winning over 3.6% more Honeyfund couples in 2023 compared to the previous year. Surprise, surprise! Italy now shares the spotlight with Hawaii as a top honeymoon pick. Looking ahead to 2024, it seems the magic of Italy is still going strong, with an equal number of couples opting for the romantic charm of Italy and the tropical allure of Hawaii.
Top US Honeymoon Picks: Orlando, Vegas, and Alaska
While Italy steals the global spotlight, within the US, honeymoon trends take a different turn. Orlando, Vegas, and Alaska emerge as top choices for couples seeking varied experiences, from the enchantment of theme parks to the lively vibes of the Strip and the untamed beauty of the Last Frontier.
The Gift Game: A Notable Shift
Gift-giving has undergone a subtle but noticeable change. While the number of gifts remained steady from 2022 to 2023, the average value per gift took a leap, reaching an average of $141 for couples in 2023. What does this tell us? Well, it seems friends and family are not just sticking to tradition; they’re willing to splurge a bit more to keep up with the rising cost of living.
Budgets, Honeymoons, and Changing Priorities
Look ahead to a wedding boom characterized by a twist in budget trends. Recent data shows an increase in honeymoon budgets, contrasting with a decrease in wedding budgets. Couples are breaking away from tradition, favoring longer and more exotic honeymoons over costly engagement rings.
Goodbye, Home Down Payment Contributions
2023 witnessed a significant shift in what couples prioritize in their wedding registries. Unlike the trend in 2022, where contributions towards home down payments were dominant, this year’s couples are placing a greater emphasis on acquiring funds for transportation—specifically, for their travel plans. IIs it because of the tough housing market and unpredictable mortgage rates? Honeyfund CEO, Sara Margulis, sums it up: “With the current housing market, investing in experiences seems more doable and fulfilling.”
Peeking into 2024: Engagements, Guest Lists, and Budgets
Data from external sources and our own surveys hint at what’s coming. Expect more engagements in 2024, alongside smaller guest lists, tighter budgets, and a preference for intimate ceremonies. Our survey shows a 5% decrease in 2023 bookings and a further 9% decrease in 2024 bookings, with wedding businesses reporting a 16% decrease in guest counts and a 17% decrease in couples’ wedding budgets.
Reflecting on the trends that defined 2023, one thing is clear: love, celebration, and adventure are evolving in exciting ways. Whether it’s an intimate gathering or a grand celebration, the journey of love stays diverse and vibrant. Looking ahead, as couples adapt priorities and budgets, Honeyfund commits to being a practical and supportive way to turn honeymoon dreams into reality.
