Thanks to Friday's Supreme Court ruling legalizing same-sex marriage, the wedding industry may be poised to get even larger.
A new survey of more than 1,200 LGBT American couples and singles by wedding website The Knot—which is owned by XO Group—found that their weddings tend to be intimate celebrations, with 90 percent involving less than 150 guests.
The study, which will appear in its third annual The Knot LGBT digital magazine Friday, also found the celebrations tend to be cheaper than the $31,213 price tag of the average U.S. wedding. Male survey responders spent an average of $15,992 on their weddings, while women forked over $13,055. just little over one-fifth of the LGBT couples spent upward of $20,000 on their big day.
The reason for the price difference may be due to the age of the couples. The survey showed LGBT men and women were about 41 and 39 on their big day, respectively, while the average age of marriage overall in the U.S. is 31 for men and 29 for women.
Dhanusha Sivajee, executive vice president of marketing for The Knot, said the delay isn't a commitment issue. Most LGBT couples live together for seven to nine years before tying the knot.
"When you think of same sex couples, 96 percent live together before marriage," Dhanusha Sivajee, executive vice president of marketing for The Knot, said. "I think they've been waiting for something like today, this historical moment."
Bob Witeck, president of Witeck Communications, believes because many couples have been in established relationships for quite some time, they may not have the disposable income to spend on a lavish wedding.
"I'm not in the market to have that kind of wedding that people have when they're younger," he said from his own personal experience. "I'm saving for my retirement, and in doing so, my marriage is not going to have the same approach or the same investment."