The Wedding Rush: WHOOPING 32 lakhs shaadis in 1 month, trade worth lakhs of crores!

The wedding season has begun and there is an overflow of couples getting married this year. A survey conducted recently revealed that a trade of 3.75 lakh crores is estimated, with an overall revenue of 75,000 crores.

Wedding Season

Wedding Season: The Shaadi season is upon us and some of us are either getting married or attending a friend's/ cousin's wedding by the year's end. The clothes are ready and the jewellery is coordinated but do you know an estimate of 32 lakh weddings till Dec 14 with a trade of ₹3.75 lakh crores is said to take place.

Traders all around the nation, including Delhi, are now getting ready for one more bonanza- the great Indian wedding season, which will start on November 14 and last until December 14 in 2022. The preparation is being spurred on by the powerful industry during the Diwali holiday season this year.

According to a survey by the CAIT Research & Trade Development Society, during this Shaadi peak period, approximately 32 lakh weddings will be legally fulfilled throughout the nation, bringing in a MASSIVE inflow of about 3.75 lakh crore via wedding-related purchases and receipts of various services from the trading community.

An IANS report stated the CAIT survey suggested that in the upcoming season, approximately 5 lakh weddings will cost roughly ₹3 lakh each, while approximately another 10 lakh weddings will cost about ₹5 lakh altogether.

Ten lakh weddings will cost ₹10 lakh each, five lakh weddings will cost ₹25 lakh each, fifty thousand shaadis will cost ₹50 lakh each, and another 50,000 weddings would cost ₹1 crore or more!

Overall in this one month, around ₹3.75 lakh crore will flow through the wedding purchases in the markets, the survey revealed. The next phase of the wedding season will start on January 14, 2023, and will be continued till July 2023, the IANS report further mentioned.

According to CAIT, there is a likelihood of over 3.5 lakh weddings in Delhi alone during the forthcoming wedding season, bringing in an estimated ₹75,000 crores in revenue.

Last year, due to Covid restrictions in some places and the virus still at large in others, people were still hesitant to go big and instead resorted to smaller and more intimate weddings. Around 25 lakh weddings took place in the same period and expenses were estimated at ₹3 lakh crore which is comparatively lesser.

According to CAIT, traders nationwide have made extensive preparations in anticipation of the wedding season's promising economic prospects in an effort to build on the positive feelings generated by this year's just-concluded record-breaking Diwali sales.

To prepare for a potential surge in clientele, traders are keeping them updated with all arrangements. According to them, the groom-bride's side only pays 20% of every wedding's expenses, with the remaining 80% going to various third parties involved in the marriage's ceremony.

According to CAIT, there has already been a significant amount of business in home renovations before the wedding season. In addition, it is predicted that this year will be even more successful for jewellery, sarees, lehengas, furniture, ready-made clothing, shoes, wedding and greeting cards, dry fruits, sweets, fruits, worship items, groceries, food grains, decoration items, home decoration items, electrical utility, electronics, and many other gift items.

Banquet halls, hotels, open lawns, community centres, public parks, farmhouses and many other types of places for weddings are fully prepared across the country.

Every wedding involves not only the purchase of accessories but also a wide range of other services, such as tent decorators, flower decorators, crockery, catering service, travel service, cab service, welcoming professional groups, vegetable sellers, photographers, videographers, orchestras, DJs, horses for the baraat, buggies, and many other types of services, all of which are expected to do well this time.

Along with this, event management has also emerged as a big business prospect.

It is clear that people are going all in and BIG for their weddings this season and are not compromising in any aspect starting with a magnificent marriage hall, an all-so-gorgeous designer lehenga, unique wedding ceremonies and a celebrity DJ artist.

The people are embracing the happy occasion with loaded wallets.

(With inputs from IANS)