The Funeral Industry Is Changing

The Funeral Industry Is Changing

The Funeral Industry seems to be going through some major changes. Most seem positive and therefore can't be categorized as a disruption. Millennials are starting to plan for end of life, and a lot are taking care of their boomer parents and grandparents as well. 

It is now estimated that the real average cost of a traditional funeral is over $8,000 and much nearer to $10,000 when cemetery fees are considered.Funeral profits may be down, but that is only because so many are opting for cremation. This is where Solace Funerals comes in. Solace seeks to assist in finding the best products for post cremation remains. 

Currently states, such as Nevada, Washington, and Hawaii, have cremation rates over 65%, whereas Mississippi, Alabama, and Kentucky have some of the lowest cremation rates in the U.S. However, all states are experiencing a growth in cremation rates.The cremation rate in the US is expected to exceed 50% by 2035.

Another trend is live streaming the funeral services. This is a positive innovation that helps loved ones join in the celebrations of life from a distance. 

 

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