Because weddings that were postponed due to the COVID-19 pandemic are expected to be rescheduled in the coming months, companies offering wedding-related products should witness high demand. So, we think it could be wise to bet now on prominent players in this space Macy’s (M), Signet Jewelers (NYSE:SIG), and Urban Outfitters (NASDAQ:URBN). Read on.Wedding-related businesses have suffered over the past year because countless couples were forced to delay their wedding plans due to pandemic-related restrictions. In addition, the resurgence of COVID-19 cases due to the rapid spread of the Delta variant is now a new cause of worry for some.
However, increasing vaccinations and the reopening of several venues are expected to boost weddings in the coming months. According to the Wedding Report, 1.9 million weddings are expected to occur this year, and there could be 2.5 million weddings next year. This surge is expected to benefit businesses offering wedding dresses, jewelry, etc.
Macy's, Inc. (NYSE:M), Signet Jewelers Limited (SIG), and Urban Outfitters, Inc. (URBN) are well-positioned to benefit from the increasing demand for wedding-related products as the number of weddings increases. So, it could be wise to bet on them now.