Understanding the Impact of Inflation on Pricing | The Venue Rx

In this week’s episode of The Venue Rx Podcast, our host Jonathan Aymin sits down with Liene Stevens Founder and CEO of Think Splendid, a global wedding market research firm. Liene discusses the impact of inflation on wedding pricing and challenges posed by supply chain issues. She emphasizes the importance of understanding luxury clients' spending habits and values, focusing on exceptional guest experiences and the role of planners. The conversation also explores cultural and economic factors influencing luxury spending, including stealth wealth. She offers valuable insights and practical advice for managing stand out wedding venues that cater to high-end clients. About Our Guest:  Liene Stevens, founder and CEO of Think Splendid, is an author, speaker, and award-winning luxury business strategist and behavioral psychologist. Named by Special Events magazine as one of “12 Young Professionals to Watch,” her research on consumer behavior has been taught in the MBA curriculum at 41 universities worldwide and cited in over 30 scientific and academic journals. Liene also founded Splendid Insights, the leading wedding market research firm publishing statistics on luxury and ultra-luxury wedding markets for HNW, VHNW, and UHNW brides and grooms. Before entering the wedding industry, she held a strategic development role as an NGO executive and led international high-stakes crisis management. An expert on the business of weddings, Liene has appeared on numerous TV programs and in major media outlets such as The New York Times, Forbes, and The Economist. She serves on the Allied Council board for the National Society of Black Wedding and Event Professionals and has held positions with the International Live Events Association and the Wedding and Event Institute. Liene authored Speak Now or Forever Hold Your Peace: Marketing Your Wedding Business in Today's World and Luxe Love: Marketing and Selling Luxury Weddings. Her third book, The Pricing Bible: The Art & Science of Getting Your Numbers Right, is forthcoming in October 2024. Find Her Here:  Website: https://www.thinksplendid.com/ Instagram: https://www.instagram.com/thinksplendid TikTok: https://www.tiktok.com/@thinksplendidLinkedin: https://www.linkedin.com/in/thinksplendid/