The wedding season is here in full glory and after two years of slowdown due to the COVID-19 pandemic, celebrations are expected to be bigger. This is reflected in an estimate drawn up by the Confederation of All India Traders (CAIT), which expects over 32 lakh weddings will be solemnised between November 14 till December 14.
The bigger the wedding, the more the expense and keeping this in mind the CAIT estimate sees the wedding market generating trade of about Rs 3.75 lakh crore in this period.
The research shows that in Delhi alone, 3.5 lakh weddings are expected to be solemnised. Meanwhile, around 1.5 lakh weddings are estimated across Rajasthan in November, the highest in over two years, according to news agency PTI.
The boom in the wedding industry this year
According to another survey done by WeddingWire India, the Indian subsidiary of The Knot Worldwide, 42.5 percent of wedding suppliers’ monthly profits will surpass pre-pandemic figures.
The company recently conducted a wedding vendor survey with over 220 vendors. and noted that around 31 percent of vendors have increased their charges this year.
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“Guest list of 100-250 is the new normal for 34 percent of couples and families. Themed and personalized weddings are emerging as the latest trends in the wedding market. Couples are also more gravitated toward sustainable options for their big day,” the survey said.
In its most recent Trend Survey, which was done in October 2022, online wedding platform Weddingz.in has recently identified new trends in the wedding business. With respect to trends, 63 percent of millennials are moving ahead with digitization and planning their weddings online rather than following the traditional route.
In spite of being mainly unorganised, a KPMG analysis titled Market Study of Online Matrimony and Marriage Services in India estimated the size of the Indian wedding market at Rs 3.68 trillion in 2016.