David Brian David, Nathan Bomi, Reporter discussed on This Morning with Gordon Deal
It's a story by Nathan Bomi business reporter at USA today. Nathan what are you seeing? Yeah. You know, this is really interesting. We're seeing that many brides are are starting to buy dresses online. It's the kind of thing. We're maybe a thought it would never happen thought. People would never buy a mattress online either. But they are now people are buying wedding gowns online because they're seeking deals they're seeking customized dresses, the seeking alternative types of dresses and different sizes and taking together. This is a big problem for the boutiques and the chains. Like, David Brian David's bridal that have. Bet that big on real estate now they're stuck with a lot of stores. So this is this is a trend. I do not see reversing. Wow. What about the whole idea of an experience of buying a wedding dress where on the bridesmaids come along or the, you know, the the mom says that's the one and all that stuff? Well, I think that that definitely still plays in favor of wedding stores. If that's the experience you're looking for. But it's interesting for the story. I talked to one right to be who said they wanted the reason she decided to buy dress online was because she was intimidated by that process that it just didn't sound like something she wanted to do. And I know that others are sometimes fearful of the process, especially if they don't like the way, they look in address in the store or for other reasons, and so, you know, a lot of people just more comfortable buying things online. And so this is interesting now, of course, with the fit of a wedding dress. It has to be perfect. But what happens is these online retailers a lot of times. We'll hook you up with a Taylor. So after you buy the dress, then you go to the Taylor and get it sized correctly. How much are people saving by doing this? Well, you can save quite a lot because the average wedding gone right now with alterations is about fifteen hundred dollars. But I spoke to a bride who bought her dress for hundred eighty dollars online and then one hundred sixty dollars. Alterations for total just over three hundred bucks. So I mean, that's quite the savings. And I think that when with when we see a lot of people putting weddings off longer and longer. Now, you know, basically people who are deciding to save money on their wedding, increasingly not going into debt. They have a lot of student loans, for example, they may not want to spend money. This is a good option for them because because ultimately, they can have a wider selection. But it's a problem for those retailers that can't carry as many choices in the store. So they're struggling to adapt. Right. So you mentioned David's bridal who else is hurting from this because a handful of stores have gotten out of the wedding, dress business altogether. Right. Yeah. David's bridal is really starting to teeter. This is not good news for them. They already have too much debt. So that's a problem that they're facing. They've hired restructuring firm to consider their future. And I know Moody's the believes that David's bridal could be headed toward bankruptcy, which is certainly which is certainly. Significant problem for them because we've seen a lot of retail bankruptcies, not go so. Well, thanks, Nathan, Nathan booming business reporter at USA today..