Wedding: research and trends from WIM 2023

WIM 2023-We Inspire Memories, the event that just took place in Florence, was much more than an engaging and innovative opportunity to connect people and businesses. In fact it allowed us to focus on wedding and private event trends thanks to the contribution of 3 interesting research studies

What is the state of the art of the wedding and private events sector? What actions should be taken to give greater recognition to the sector? And what are the ones to increase Italy’s web reputation in the global market?

The answers come from the 3 studies presented in Florence during WIM 2023-We Inspire Memories.

Wedding & Private Events: value of the sector today and scenarios

The research conducted by Thrends highlights that the sector of the Italian wedding and private event economy is still little known and little institutionalised.

There are 4 key issues. That is, distinguishing what is MICE and what is PE 2. Censusing the ATECO codes of the sector and structuring a mapping of the players 3. Estimating turnover, direct and induced impact of the sector on a statistical basis 4.

Supporting the requests of the sector based on the contribution to the national GDP. There are studies and numbers available today but there is uncertainty about the numbers. In fact, there is a lack of a certain and institutional source representing the operators and as far as related industries are concerned, the perimeter between destination weddings and non-destination weddings must be delimited, as well as which ancillary services (cost items) to consider in sector estimates.

Furthermore, we often focus on only some aspects of the segment. An indicative estimate based on the little data currently available for the Italian wedding sector speaks of (estimate 15 expenditure items: Location, F&B, WP, Photos, Dresses, Music, etc.): 191,000 average number of weddings; 21,090 (average expense of an Italian wedding) for a value of the sector of 4.03 billion.

For info: www.thrends-italy.com

Italy’s web reputation in the global Destination Wedding & Events market & Focus on Tuscany

Sinerbit presented an analysis of search volumes on google.com for keywords relating to the Destination Wedding & Event in Tuscany and in other competing destinations in Italy and abroad. Furthermore, on Instagram it analyzed the use of Hashtags relating to the Destination in Tuscany, Italy and abroad. Interest and research in the Destination market in Italy and Tuscany are continually growing in all the locations analysed.

At an Italian level, there is a substantial predominance of Tuscany as a location for Destination Wedding & Events. Greece and Santorini still appear to be the main competing destinations at a European/Mediterranean level.

There are still places from which prospects come with a high spending capacity (see the Gulf countries) in which there is currently no real strategy to increase interest in D.W.&E. in Italy and Tuscany. For info: sinerbit.com

The importance of data

The Data Appeal Company illustrated how data and artificial intelligence are fundamental to growing a company. As? Through Dashboards for the data visualization of insights intended for destinations and retailers, Data packs and APIs of our proprietary data and indices and Tools for ESG scoring.

An example? San Gimignano uses sentiment and hotel data (prices and occupancy) to effectively promote and measure overnight stays. San Gimignano, despite being very popular with tourists from all over the world, has encountered many difficulties in attracting night visitors. In fact, over 90% of visitors arrived and left within the same day, having a negative impact on the hospitality industry. The Tourism Board needed information on visitors and forecast data to understand which were the best source markets to target its campaigns and measure their effectiveness.

Thanks to data, artificial intelligence and the human side, hotel bookings grew by more than 6% and the minimum price by more than 24%.

For info: datappeal.io/it/