How will recession hit the wedding photography business?
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It's a once in a lifetime thingy, couples who likes good photography will still be willing to pay for it... I hope...:bsmilie:
I bet the wedding of course.. With regards to recession, depends.. You might face more than 1 economic cycle if you live long enough.. Like our baby boomer generation..
during the last recession, many wedding couples KIV their customary wedding, (some waited for 3~4 years).
those who can't wait, some forgo their their wedding banquets, some cut down all the expenses.
wedding photography is only one segment of the wedding preparation, be it wedding day photography or bridal portrait, definitely they will cut back. so the cake (market) will become very small nowadays.
so if you can't stay in this trade with current situation, better prepare to source income from other areas seriously.
those who can't wait, some forgo their their wedding banquets, some cut down all the expenses.
wedding photography is only one segment of the wedding preparation, be it wedding day photography or bridal portrait, definitely they will cut back. so the cake (market) will become very small nowadays.
so if you can't stay in this trade with current situation, better prepare to source income from other areas seriously.
I'm sure it will affect all in the wedding industry, not only the photography market.
The last recession has made a lot of photographers looking for other sources of income until they tide it out. I was one of them but came out wiser and better prepared this time around.
That said, there will still be people getting married and such. Perhaps less or budget reduced.
The last recession has made a lot of photographers looking for other sources of income until they tide it out. I was one of them but came out wiser and better prepared this time around.
That said, there will still be people getting married and such. Perhaps less or budget reduced.
I thought it's the opposite? Couples will come and look for cheap freelance wedding photographers in Clubsnap. :bsmilie:
Actually Freelance Wedding Photographer not necessary cheap... often getting the package from the bridal shop is more economical... :think:
A wedding day event is of utmost importance to the couple.
Would one chance a TFCD and hope the pictures turn out okay?
At most i believe, the couples will tighten their budget & op for a good photographer within a reasonable budget.
Would one chance a TFCD and hope the pictures turn out okay?
At most i believe, the couples will tighten their budget & op for a good photographer within a reasonable budget.
Recession is here and there's no escaping it. Couples will be on a budget. How should we as wedding photographers react to this? Should we reduce price to attract more budget couples or stick to our guns on the prices? Which options makes more business sense?
I was hoping the pros here could share their insight on this. Thanks.
I was hoping the pros here could share their insight on this. Thanks.
Me only hobbyist.
People just ask their friends and relatives to snap in a recession.
Everyday read big companies overseas cut tens of thousands of jobs.
Today Nissan say 20,000 retrenchments.
You sure couples dare settle down in deep recession?
Cannot even feed oneself, then want to be responsible for a new family?
People just ask their friends and relatives to snap in a recession.
Everyday read big companies overseas cut tens of thousands of jobs.
Today Nissan say 20,000 retrenchments.
You sure couples dare settle down in deep recession?
Cannot even feed oneself, then want to be responsible for a new family?
The question is, which group of clients would you like to attract - couples who really like your work and would pay big money for it or couples who book you because you fees fall in the budget range?
I've managed to keep budget clients out of my door steps for 2 years now, and I want to keep it that way. Don't think the price difference between the top pricing photographers and mid range ones are anything more than $2k-3k, so no need to let client's bargain.
In anyway, my biggest competitors has never been the other photographers, and more so at this point of time, the other vendors. I've been talking to couples who have signed up so far and most of them are cutting their budget on other things, e.g some are doing away with the wedding dinner, some I know are buying gowns off ebay at USD$250, the couple I just shot on Monday had their mum to sew all the 4 pieces of gown for them.
Never let a client's budget problem become your problem, and strictly biz, let it be the other vendor's problem
At the end of the day, it's what the couple value most and what are the things that they can do without.
usually i let canturn talk :bsmilie: but this time i'll have to chip in agree with him, especially the part where "our competitors aren't actually other photographers".
sounds wierd but it's so true....
sounds wierd but it's so true....
Agreed,...................
Never let a client's budget problem become your problem, and strictly biz, let it be the other vendor's problem
many couples use this as an excuse to bargain, see what will they response if photographers tell them you got family to feed, house, car to maintains, cameras and lenses to upkeep, business to run........ :bsmilie: :bsmilie: :bsmilie:
The recession will hit wedding photography the same way as it hits other businesses - some more than others. For many people, wedding photography is a 'can have' - so for this group of people, that's an expense that could be cut. Although I haven't seen that happening in reality myself.
Fortunately, most (if not all) of my clients place a very high priority on wedding photography. Their line of reasoning is a logical one. You can cut back on most things and return to purchase them when times are better. But you can't really do that for wedding day photography. I know that's beginning to sound cliche, but couples actually told me that themselves.
Fortunately, most (if not all) of my clients place a very high priority on wedding photography. Their line of reasoning is a logical one. You can cut back on most things and return to purchase them when times are better. But you can't really do that for wedding day photography. I know that's beginning to sound cliche, but couples actually told me that themselves.
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