Party & Event Planners in the US Industry Market Research Report from IBISWorld Has Been Updated

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Recovery is expected to persist in the five years to 2019, bolstered by strengthening corporate profit and increasing discretionary income. For these reasons, industry research firm IBISWorld has updated a report on the Party & Event Planners industry in its growing industry report collection.

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The industry is set to benefit from climbing corporate profit and disposable income

The Party and Event Planners industry depends heavily on the willingness of households and businesses to spend money on discretionary services. Typically, businesses hire event planners to coordinate holiday dinners, fundraisers and client appreciation events. Companies with strong earnings over the course of the previous year have more money to allocate toward special events; therefore, demand for industry services from this market is primarily driven by corporate profit levels, overall business sentiment and consumer confidence. Likewise, households work with professional event planners to organize and manage weddings, birthdays and other milestone celebrations. Consequently, overall per capita disposable income levels drive demand for industry services from the household market.

According to IBISWorld Industry Analyst Ibrahim Yucel, “Over the first half of the five years to 2014, these metrics weakened because of the economic downturn, though rising business sentiment and per capita disposable income levels quickly revitalized demand for industry services from all market segments.” Consequently, industry revenue is estimated to grow over the five years to 2014. IBISWorld estimates revenue to increase in 2014, primarily driven by large businesses spending more on corporate dinners and other social events.

Profit has followed a similar trajectory to that of industry revenue. In response to ongoing economic uncertainty and low business sentiment, budget-conscious corporations and consumers opted for lower-priced event options, which reduced the industry's profit margins. Nonetheless, demand for professional event services quickly rebounded from 2011 and onward, driving profit margins up in 2014.

Over the next five years, event and party planners are expected to perform well. “Despite a rising number of industry participants, the industry is set to benefit from climbing corporate profit and per capita disposable income,” says Yucel. Industry revenue is forecast to increase over the five years to 2019. Similarly, profit is expected to continue rising as clients increasingly opt for more lavish, higher-priced venues and event services.

For more information, visit IBISWorld’s Party & Event Planners in the US industry report page.

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IBISWorld industry Report Key Topics

This industry comprises companies and individuals that organize social events such as parties, weddings and other social gatherings. The Party & Event Planners industry does not include companies that organize conventions and trade shows.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld
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