BARCELONA, April 18, 2016 /PRNewswire/ --
The global bridal fashion market is concentrated in three main production areas: China, the United States and Spain, the second-largest exporter after China. The future challenges facing the sector are to open up new markets and adapt to the demands of the Millennial generation, which will set the trends in the bridal universe. These are the conclusions of the survey entitled 'Millennial Brides: Born in the 1980s, Getting Married Today', commissioned by Barcelona Bridal Fashion Week and conducted by IESE Business School professor José Luis Nueno, an expert in the fashion industry with a PhD from Harvard.
According to this report, China is the world's biggest producer of wedding dresses with 10.6 million units, of which 72% are for export. China is followed by Vietnam and the United States, which is the third biggest manufacturer of wedding dresses, producing some 1.8 million units. Spain with an annual turnover of around 1.3 billion euros, of which exports account for 41%, making it the world's second-largest exporter after China.
Demographic changes and new consumer habits point to the fact that by 2020 the countries with the biggest purchasing potential for bridal fashion products will be Latin America followed by the USA, Saudi Arabia, Kuwait and the UAE.
Also according to the study, the Millennial generation (those born between 1980 and 2000) will comprise the biggest group of potential brides and grooms. The Millennial bride is the first digital bride this is changing the way they buy wedding dresses. This means that the shopping trip no longer starts with a trawl of physical stores but rather the websites, apps and blogs of Google, Instagram and Pinterest, but when it comes to the actual purchase, the offline in-store experience prevails.
With catwalk shows by 21 national and international firms and some 260 brands at the trade show, more than half of them international, Barcelona Bridal Fashion Week (BBFW) has consolidated itself as the European hub of bridal fashion and one of the world's most important events in its sector. BBFW takes place from 26 April to 1 May at Fira de Barcelona.
Download study abstract here
SOURCE Fira de Barcelona