As confirmed by latest reports, the ongoing wedding season in India will see as many as 42 lakh weddings.
This number is only till mid July, and is expected to bring business of Rs 5.5 lakh crore through wedding-related purchases and services.
42 Lakh Weddings This Season!
It is anticipated that the country’s current wedding season, predicted to see about 42 lakh weddings, will continue until mid-July.
An estimated Rs 5.5 lakh crore in revenue is produced by wedding-related purchases and services.
These insights came from a survey conducted by traders’ body CAIT’s research arm CAIT Research & Trade Development Society.
Over 4 lakh weddings are anticipated to take place in Delhi alone, bringing in about Rs 1.5 lakh crore for the local economy.
An estimated 35 lakh weddings took place in the previous year, costing an estimated Rs 4.25 lakh crore. According to a CMAI survey, 83% of manufacturers of wedding apparel said there was “no growth” during the wedding season.
Average Cost Of Wedding To Be 3 Lakh
During the season, the average cost of a wedding is estimated to be Rs 3 lakh. Ten lakh weddings are expected to cost Rs 10 lakhs each, with another 10 lakh weddings expected to cost Rs 15 lakhs each. Furthermore, Rs 25 lakhs are anticipated to be spent on each of the 6 lakh weddings.
60,000 weddings are anticipated to cost Rs 50 lakhs each, and 40,000 weddings are anticipated to cost more than Rs 1 crore. Each marriage costs about 20% of the total, split equally between the bride and groom.
Eighty percent of the total cost of the wedding is paid to outside organizations involved in the planning.
During the wedding season, a number of products, such as jewelry, clothing, electronics, and home repairs, are anticipated to see strong sales.
Demand For Wedding Supplies To Go Up
All throughout the nation, including Delhi, banquet halls, hotels, and other wedding locations are completely reserved.
It is anticipated that there will be a significant demand for goods like sarees, furniture, ready-to-wear clothing, shoes, wedding invitations, and greeting cards.
It is also anticipated that there will be a demand for additional goods such as dry fruits, candies, fruits, groceries, food grains, worship items, home decor, and electrical utilities.
