How the dating industry offers a recession-proof business opportunity 

If there's one thing in life we can count on - it's love. As human beings we are sociable creatures that cope best when creating meaningful connections with others.

How the dating industry offers a recession-proof business opportunity 

If there’s one thing in life we can count on – it’s love. As human beings we are sociable creatures that cope best when creating meaningful connections with others. We weren’t made to be alone and as a result, we spend a huge portion of our dating lives trying to find ‘the one’.

According to research, during her lifetime, the average woman will kiss 15 men, suffer four disastrous dates, be stood up once, enjoy two long-term relationships and have her heart broken twice before she meets the one. In comparison, men face being stood up twice, have six one-night stands and commit to six short-term relationships, of which two will last longer than a year, before they meet their ideal partner.

But what happens when less and less of us are finding that perfect partner organically?

Another transition

Traditionally, most relationships started through an introduction from a third party – be it a friend, family member or even an acquaintance – or a meeting of chance when carrying out your everyday tasks. But over time, with societal changes and an ever-increasing reliance on technology and the digital world, meeting organically has become a thing of the past with a third of relationships now starting online.

It’s no surprise then that over the past two decades online dating has been at the forefront of the dating world. With thousands of potential matches at your fingertips, online dating apps and websites provide an easily accessible way to find single people within your locality, outside of your usual work, family, and social circles. 

However, with so many becoming disillusioned with the online dating world thanks in no small part to the numerous online dating horror stories we hear of people not quite being who they perceive to be, and the intense labour involved in finding a date, it’s no surprise that matchmaking agencies are becoming the go-to option for those serious about finding that perfect partner. 

During the pandemic, matchmaking agencies worldwide witnessed an exponential increase in the number of single people signing up for their services. Fuelled by the inability to date normally and the uncertainty of having their information online, matchmakers offered a safer alternative for singletons to meet potential matches in a way that aligned with the ever-changing government guidelines and subsequent confusion – a trend that appears to be continually growing month-on-month regardless of the ease in restrictions. 

Love is priceless

Humans will never be in a position where they are solely sufficient and uninterested in building relationships, it’s simply not part of our DNA. Couple this, with the societal expectations for people to find a match, settle down and start a family, and it is clear that there will always be a space for dating and the businesses that facilitate these commonly accepted life goals. 

With the evolution of the ever-increasing digital world reducing the ability to make those connections organically, there needs to be a platform to bridge the gap and put the personal back into personal relationships. And as long as this remains the case, there will always be a need for matchmaking and dating agencies to guide single people through the ever-changing dating landscape and facilitate those perfect matches.

Take the pandemic for example. When lockdowns were enforced around the world, it was the loneliness and the inability to see friends, family and loved ones for such an extended period of time that took the biggest toll on people’s mental health and wellbeing. As a result, matchmaking agencies saw a huge influx of people taking up their services as a way to continue their quest to find someone to share the ups and downs of life with.

Despite the fact that the UK is heading into a period of stagflation with high inflation and a recession hitting the economy simultaneously, and the long wait we all faced for the world to open up again, single people throughout the UK are still prioritising finding love and investing in their dating journey and the knowledge of expert matchmakers to help them on their quest. 

Forecast to reach £6.7bn by 2025, the UK dating industry is showing no signs of slowing down regardless of the economic situation that many people find themselves in. And it’s hardly surprising. After all, when we look back on our lives it won’t be the material assets that we remember, or even the milestones that we achieved, but instead it will be the memories and the relationships that we created with those we love that will have made our lives worthwhile.

This article comes courtesy of Ignite Dating, a multiple award-winning elite matchmaking agency that specialises in hand-selected personal introductions for successful professionals throughout the UK and beyond.

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