Zola Co-Founder and Co-CEO Shan-Lyn Ma discusses the wedding boom of 2022 and how inflationary effects are changing the way that guests think about wedding spending. Ma joined the Yahoo Finance Live show on June 23, 2022.
SHAN-LYN MA: On the one hand, we see travel and the cost of travel is impacting guests. Now, with the wedding boom this year, we find that actually the majority of weddings still are happening locally and that the majority of guests are driving to weddings. But of course, with gas prices, that is a factor that is factoring into guests' decisions into how the budget for attending weddings.
The other factor is, of course, we all are speaking about inflation. And so there are things naturally, from the cost of travel, food, accommodation, that might factor into guest budgeting. And then lastly, the sheer number of weddings is through the roof this year. We have one of the busiest wedding years since the 1980s. And so guests are excited to go to weddings again. They want to go to weddings again. And they're invited to more than ever before.