Fueled by the MTV show “My Super Sweet Sixteen,†birthdays, bat mitzvahs, high school graduations and quinceaneras have become excuses for tears, tantrums and finally extortion. Weak-willed parents take on extra jobs, second mortgages, sell kidneys to placate Princess and give her the bestest Super Sweet Sixteen that her materialistic MasterCard wielding mind can devise and ,of course, they also have to surprise her with a BMW cabriolet.
Implications - When people host events for their family or friends, extravagance is key; they want the guests to understand their values and interests. For this reason, they seek products and services that are entertaining and perhaps customizable to the celebration. Event planning companies can cater to their target markets by supplying products and services with these qualities.
Parents Hemorrhaging Money on Extravagant Parties
My Super Sweet Sixteen
Trend Themes
1. Extravagant Celebration Experiences - Opportunity for event planning companies to create customizable and entertaining products and services that cater to the demand for extravagant celebrations.
2. Materialistic Party Planning - Opportunity for businesses to provide products and services that cater to the demand for materialistic elements in parties and events, such as luxury cars, designer decorations, and high-end gifts.
3. Parental Pressure and Financial Burden - Opportunity for financial planning services and counseling platforms to help parents navigate the pressures of extravagant celebrations and find alternative ways to celebrate milestones without breaking the bank.
Industry Implications
1. Event Planning - Opportunity for event planning companies to offer extravagant celebration experiences by providing customizable and entertaining products and services.
2. Luxury Goods - Opportunity for luxury goods businesses to cater to the demand for materialistic elements in parties and events, such as luxury cars, designer decorations, and high-end gifts.
3. Financial Planning and Counseling - Opportunity for financial planning services and counseling platforms to assist parents in managing the financial burden and parental pressure associated with extravagant celebrations.