- After witnessing record-breaking sales in Diwali, India’s business community is all set to cater to the demands of the upcoming wedding season starting November 23.
- The Confederation of All India Traders (CAIT) predicts a wedding season expenditure of Rs 4.74 lakh crore from November 23 to December 15, involving nearly 38 lakh marriages.
- According to CAIT, over 4 lakh weddings are expected to be held this season in Delhi alone generating a business of about Rs 1.25 lakh crore.
- Last year around 32 lakh weddings took place in the same period and trade was estimated at Rs 3.75 lakh crore.
According to the Confederation of All India Traders (CAIT), there might be business worth Rs 4.74 lakh crore in mainline retail consisting of both goods and services with about 38 lakh weddings across India.
Last year around 32 lakh weddings took place in the same period and trade was estimated at Rs 3.75 lakh crore. The wedding season begins on November 23 on Dev Uthan Ekadashi. The wedding season will continue until December 15. In November, the auspicious dates are 23,24,27,28 and 29. In December, the wedding dates are 3,4,7,8,9 and 15.
After this period, weddings will again be held only from mid-January and continue till July 2024. The CAIT consulted prominent trade bodies of 30 various cities of different states which are known as distribution centres and different stakeholders both in goods and services. It is estimated that around 38 lakh weddings will be solemnised across the country. According to CAIT, the 38 lakh weddings are expected to infuse about Rs 4.74 lakh crore into the market, reflecting both wedding-related purchases and the procurement of various services. CAIT national president and secretary general said in Delhi alone, over 4 lakh weddings are expected to be held in this season. These weddings are likely to generate a business of about Rs 1.25 lakh crore.
Breaking down the expenditure patterns, CAIT expects about 7 lakh weddings with expenses around Rs 3 lakh, 8 lakh weddings with Rs 6 lakh, 10 lakh weddings with Rs 10 lakh, 7 lakh weddings with Rs 15 lakh, 5 lakh weddings with Rs 25 lakh, 50 thousand weddings with Rs 50 lakh, and another 50,000 weddings with expenses exceeding Rs 1 crore.
According to these CAIT members, 50 percent of the expenditure is due to goods and the other 50 percent is incurred due to the procurement of services.
In the goods sector, 10 percent will be allocated for textiles, 15 percent for jewellery, 5 percent for electronics and consumer durables, 5 percent for dry fruits, sweets and savouries, 5 percent in grocery and vegetables, 4 percent in gift items and the rest 6 percent in other miscellaneous items.
The services sector is also expected to flourish, with allocations of 5 percent for banquet halls, hotels, and other marriage venues, 5 percent for event management, 12 percent for tent decoration, 10 percent for catering services, 4 percent for flower decoration, 3 percent for travel and cab services, 2 percent for photo and video shoots, 3 percent for orchestra and band services, 3 percent for lights and sound, and the remaining 3 percent for miscellaneous services.
(With inputs from agencies)
