David’s Bridal Bounces Back From Bankruptcy To Market To Millennials

February 12, 2019

caucasian happy romantic young  couple celebrating their marria

David’s Bridal is lowering its prices and offering free styling services in an effort to reach the next generation of brides. According to Business Insider, David’s Bridal has re-emerged from its bankruptcy and is using its second chance at life to reach millennials with lowered prices, free personal stylists, and expanding its in-store sample dresses.

David’s Bridal filed for Chapter 11 bankruptcy protection in November 2018, but swung back this past January with $450 million less in debt. The company didn’t close any of its 300 stores during the bankruptcy.

Company CEO Scott King says the bankruptcy lead many to believe the store was shutting down, but that that’s not the case. “We’ve come out the end a much stronger company,” he said.

David’s Bridal came out the other side with new marketing strategies to target new brides as well. Key said one of the top reasons customers were dissatisfied with their shopping experience at the company was that brides felt they weren’t receiving the attention they needed from sales associates. Considering that consumers spend roughly $1,700 annually on apparel, the extra they’re spending during the wedding planning process needs to feel worth it.

“In the past, in a busy, peak period … brides-to-be might find themselves in a situation where they’re sharing the attention of the associate with another bride,” said Key.

To remedy this, David’s Bridal stores will now offer a dedicated bridal stylist free of charge for each bride. The stylist will help the bride try on dresses and advise customers.

Key also says the company will lower its prices on certain dresses including bridesmaids dresses. The decision came from growing competition in the bridal market in the form of stores like Anthropologie, Asos, and Reformation.

The wider range of retail options offer brides the ability to find dresses for their bridesmaids at lower prices. While this may not have been a problem in the past, the millennial generation has already started hosting smaller weddings with DIY decorations to save on money.

The average cost of a wedding in the U.S. is $35,329 with flowers alone making up 8% of the budget. That’s just under the average amount of a millennial’s student loan debt at $37,172.

In fact, many millennials brides and grooms are asking for money donations as wedding gifts rather than making a registry. The reason behind it is to help pay off debt or save up enough money to make a down payment on a house and the 25% additional moving materials needed to move.

This may sound like an odd wedding gift, but experts say that it could be 20 years before millennial Americans have enough money to make a down payment on a house. That said, couples are looking to save money wherever they can.

This economic shift in clientele has also put financial pressures on traditional bridal chains like David’s Bridal and Alfred Angelo. But unlike David’s Bridal, Alfred Angelo didn’t make a comeback and went out of business in July 2017.

“There are so many options for brides to shop now, and women have the option to shop for less,” said marketing consultant Anne Chertoff. “The market is saturated, and it gets diffused.”

David’s Bridal will not only be lowering its sales prices to reach a wider audience of brides but will also offer a larger assortment of sample sizes in its stores.

“When a plus-sized woman would visit our store, she would likely be able to try on a dress in her size,” said Key, “but it might not be the dress she wanted.” A larger assortment of sample sizes, Key says, will give all brides the opportunity to find a dress they love in their size.

Share This Post

Error, no group ID set! Check your syntax!

Leave a Reply

Your email address will not be published. Required fields are marked *