Wedding invitation cards are more than just a way to inform guests about the details of a wedding. They are also a way to express the personality, style, and theme of the couple. Wedding invitation cards can be customized to suit any preference, budget, and occasion. They can also be a source of income for entrepreneurs who have a passion for design, printing, and marketing.
The Market Demand for Wedding Invitation Cards
The market demand for wedding invitation cards is high and growing. According to a report by Grand View Research, the global wedding services market size was valued at USD 210.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2021 to 20281. The report also states that the wedding cards segment accounted for 5.2% of the market share in 2020 and is expected to witness significant growth over the forecast period1.
The factors that drive the market demand for wedding invitation cards include:
- The increasing number of weddings around the world. According to the World Bank, the global crude marriage rate (the number of marriages per 1,000 people) was 6.8 in 20192. This means that there were about 53 million weddings in that year alone.
- The rising disposable income and spending power of consumers. According to Statista, the global average per capita income was USD 11,297 in 20193, which is an increase of 24% from 20103. This means that consumers have more money to spend on their weddings and related services, such as wedding invitation cards.
- The growing preference for personalized and unique wedding invitation cards. According to a survey by The Knot, 72% of couples said that personalization was important for their wedding invitation cards in 20194. This means that couples want their wedding invitation cards to reflect their individuality, taste, and theme.
- The increasing availability and accessibility of online platforms and tools for the designing and the printing. According to a report by IBISWorld, the online greeting card industry revenue was USD 1.2 billion in 2020 and is expected to grow at a CAGR of 5.6% from 2021 to 2026. The report also states that the industry has benefited from the rising popularity of online platforms and tools that allow consumers to create and customize their own wedding invitation cards with ease and convenience.
The Business Opportunities
The high and growing market demand for wedding invitation cards creates various business opportunities for entrepreneurs who want to enter this industry. Some of the business opportunities include:
- Digital wedding invitation card design: This involves creating and selling digital wedding invitation card templates or designs that can be downloaded and printed by customers or sent online via email, WhatsApp, SMS, or social media. This business opportunity has low startup costs, low risks, and high profit margins. It also allows entrepreneurs to showcase their creativity and skills in graphic design, animation, typography, and color theory.
- Full-service printing: This involves providing end-to-end services for the card printing, such as designing, printing, packaging, and delivering physical wedding invitation cards to customers. This business opportunity has higher startup costs, higher risks, but also higher potential revenues. It also allows entrepreneurs to offer quality products and services that meet the expectations and needs of customers.
- The marketing: This involves promoting and selling wedding invitation card products or services through various channels, such as online platforms, social media, blogs, websites, email newsletters, podcasts, videos, or events. This business opportunity has low to moderate startup costs, low to moderate risks, and moderate to high potential revenues. It also allows entrepreneurs to leverage their network, communication skills, and knowledge of the market trends and customer preferences.
The Benefits of Online Wedding Invitation Cards
One of the best ways to capitalize on the business opportunities is to use online wedding invitation cards. Online ones have many benefits for both customers and entrepreneurs, such as:
- They are easy to design and customize: Customers can use online platforms and tools like Canva or Greetings Island to create their own the cards in minutes. They can choose from hundreds of templates, fonts, colors, and graphics that suit their theme and style. Entrepreneurs can also use these platforms and tools to create their own digital wedding invitation card products or services that they can sell online.
- They are affordable and eco-friendly: Customers can save money and paper by sending their cards online via email, WhatsApp, SMS, or social media. They can also use online platforms like Canva to print their cards on specialty paper if they prefer. Entrepreneurs can also save money and paper by offering online wedding invitation card products or services that do not require physical printing or delivery.
- They are convenient and interactive: Customers can manage their guest list and RSVPs online using online platforms like Greetings Island. They can also update their guests with any changes or reminders easily. They can also encourage their guests to share their photos and messages using their social media hashtag or photo sharing app. Entrepreneurs can also use these platforms to communicate with their customers and provide them with support and feedback.
