 "This season may see wedding business worth Rs 4.25 trillion in just 23 days")
India is gearing up for its largest wedding season yet, between November 23 and December 15 this year, according to a survey conducted by the Confederation of All India Traders (Cait).
According to this survey, during these 23 days, approximately 3.5 million weddings are expected to take place across the country, creating a significant economic surge in the wedding industry. The Cait Research & Trade Development Society survey estimates a flow of about Rs 4.25 trillion in wedding-related purchases and services.
In Delhi alone, more than 350,000 weddings are expected to take place, accounting for around 10 per cent of the total number of weddings between these dates in India. This has the potential to generate Rs 1 trillion for businesses in this sector. Last year, 3.2 million weddings occurred during the same period, with expenses totalling approximately Rs 3.75 trillion.
Wedding expenditure categories
Cait national president B C Bhartia and secretary general Praveen Khandelwal further added that the weddings could be divided into five different expenditure categories, which are the following:
- About 600,000 weddings will have an estimated expenditure of Rs 3 lakh per wedding
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- Approximately one million weddings will cost around Rs 6 lakh per wedding
- 1.2 million weddings are expected to incur expenses of about Rs 10 lakh per wedding
- 600,000 weddings are estimated to cost Rs 25 lakh per wedding
- 50,000 weddings will have a budget of Rs 50 lakh per wedding.
- 50,000 weddings will involve expenditures of Rs 1 crore or more per wedding.
Thriving businesses during this period
Traders across the country have made extensive preparations to cater to this bustling wedding season. Approximately 20 per cent of the total marriage expenditure is allocated to the bride's and groom's side, while 80 per cent goes to various third-party agencies involved in organising the ceremonies.
Businesses related to house repairs, painting, jewellery, sarees, lehenga-chuni, furniture, readymade garments, footwear, wedding and greeting cards, dry fruits, sweets, fruits, worship items, groceries, food grains, decoration items, home décor, electrical appliances, electronics, and gift items are expected to thrive during this period.
Banquet halls, hotels, open lawns, community centres, public parks, and farmhouses are fully prepared to host these weddings. Additionally, various services, including tent decoration, flower arrangement, catering, travel services, cab services, photography, videography, music bands, orchestras, DJs, horses for processions, lighting, and event management, are also expected to see significant demand, contributing to the bustling business activity in this wedding season.