The festive season has barely ended, and the wedding season is already upon us. This is a time when markets are bustling with activity. In this context, a report by CAIT has emerged, which might surprise you. The Confederation of All India Traders (CAIT) has predicted that the wedding season this year could generate business worth 6 lakh crore INR. Let’s dive into the details.
When Does the Wedding Season Start?
This year, the wedding season in India is set to begin on November 12 and continue until December 16. During this period, around 4.8 million weddings are expected, potentially generating business of approximately 6 lakh crore INR. There are 18 auspicious dates this year for weddings. In November, the auspicious dates are November 12, 13, 17, 18, 22, 23, 25, 26, 28, and 29, while in December, the dates include December 4, 5, 9, 10, 11, 14, 15, and 16.
More Business Than 2023
This year’s wedding season is expected to see higher business than last year. In 2023, 3.5 million weddings generated 4.25 lakh crore INR in business, which is significantly less than what is expected this year. Additionally, there are more auspicious dates this year compared to last year, which had only 11. It is anticipated that Delhi alone will witness 450,000 weddings, generating about 1.5 lakh crore INR in business. The next wedding season after this one will be from January to March 2025.
How Much is the Expense?
CAIT’s Secretary General Praveen Khandelwal mentioned a shift in consumer shopping behavior, with people now preferring Indian products over foreign ones. This reflects the success of Prime Minister Narendra Modi’s ‘Vocal for Local’ and ‘Aatmanirbhar Bharat’ (Self-Reliant India) vision.
CAIT has categorized weddings based on the expenditure:
- 1 million weddings with an average spend of 3 lakh INR per wedding
- 1 million weddings with an average spend of 6 lakh INR per wedding
- 1 million weddings with an average spend of 10 lakh INR per wedding
- 1 million weddings with an average spend of 15 lakh INR per wedding
- 700,000 weddings with an average spend of 25 lakh INR per wedding
- 50,000 weddings with an average spend of 50 lakh INR per wedding
- 50,000 weddings with a spend of 1 crore INR or more per wedding
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They also provided a breakdown of various expenses, such as:
- Clothes, saris, lehengas, and apparel: 10% of total expenses
- Jewelry: 15%
- Electronics and appliances: 5%
- Dry fruits, sweets, and snacks: 5%
- Groceries and vegetables: 5%
- Gifts: 4%
- Other items: 6%
Additional expenses include:
- Banquet halls and hotels: 5%
- Event management: 3%
- Tent decorations: 10%
- Catering services: 10%
- Décor: 4%
- Transportation and taxis: 3%
- Photography and videography: 2%
- Orchestra and music: 3%
- Light and sound: 3%
- Other services: 7%