Kevin O’Leary says he invests in two specific industries because people tend to overspend on them

The "Shark Tank" investor says these industries stand out because they are among the few areas where people consistently overspend and are often happy to do so.

"Marriage… [is] one time in your life where you don't care about gross margin on product services," O'Leary said (1) in a recent interview on The Iced Coffee Hour. "People overpay for everything at weddings. It's just insane."

"And also in death," he added. "It's another time when you don't care so much about the price of something. If you want that coffin, you want that coffin. So I'm an investor in both sides."

Weddings

People tend to spend heavily on weddings. The average U.S. wedding cost $34,200 in 2025, according to The Knot's Real Weddings Study (2), or $36,000, according to Fidelity (3).

Overspending is also common. Nearly three-quarters of newlyweds in 2024 exceeded their budgets, with 95% saying it was still "worth it."

One potential weakness of this industry for investors is that wedding budgets can tighten during economic downturns. But even then, people still get married, often adjusting spending rather than cutting it entirely and some refuse to let financial challenges derail their vision for their big day.

In fact, 77% of couples increased their budgets to cope as a result of the economy, according to The Knot's study (4).

These findings support O'Leary's view that weddings are a resilient, high-spend category.

Funerals

Like marriages, funerals are a one-time event where affection is sometimes measured by how much money is spent.

Additionally, funerals are often viewed as essential, with decisions made under tight timelines and emotional pressure.

Families typically have only a few days to make arrangements, leaving little opportunity to compare prices (5) or negotiate and it's common to feel awkward about trying to save money on a special someone's final send-off.

This all generally means demand remains steady and pricing power is relatively strong, regardless of the economic backdrop. The funeral industry is also proving to be remarkably resilient (6), evolving and innovating to match customer demand.

"We're no longer just a funeral company who does events. We're an event company who does funerals," said Walker Posey of Posey Funeral Directors in North Augusta, S.C. — a company that's been in business for over 140 years.

How investors can tap into these industries

There's no single "pure-play" wedding stock. However, it's possible to gain exposure by investing in publicly traded companies that make some of their money from these life events.

They include jewelry retailer Signet Jewelers, which generates significant revenue from engagement rings, as well as apparel and department store players like Urban Outfitters and Macy's. Hospitality giants Marriott International and Hilton Worldwide also benefit from weddings through venue bookings, catering and guest stays.

The funeral industry by contrast offers more direct exposure.

Service Corporation International operates a large network of funeral homes and cemeteries, while Carriage Services focuses on smaller, high-margin operations.

More diversified options include Matthews International, which produces, among other things, caskets, cremation equipment and memorial products and Security National Financial Corporation, which, alongside insurance and mortgage lending, also provides burial plots, mausoleums, cremation services and funeral directing.

Smart investments?

In theory, both these industries have attractive qualities. Demand is steady, customers are often less price-sensitive and the services themselves are unlikely to go out of fashion.

But that doesn't mean every company in the space is a guaranteed winner.