According to the Confederation of All India Traders (CAIT), India’s wedding season is expected to generate an estimated ₹6 lakh crore in economic activity across goods and services. This surge is primarily fueled by wedding-related spending on jewelry, clothing, catering, venues, and various services. In Delhi alone, around 4.5 lakh weddings are anticipated, contributing ₹1.5 lakh crore to the local economy.
Retailers Prepare for a Festive Economic Uplift
With the season kicking off on November 12, 2024, retailers across India are readying themselves for a high-demand period. CAIT’s recent study suggests that the retail sector is on track to achieve a total turnover of ₹5.9 lakh crore during this festive time. Major retail sectors, including fashion, electronics, and home decor, expect strong sales as consumers invest in wedding essentials.
Gold Demand Increases Amid Wedding Season
Jewelry stores are also witnessing heightened activity. Suvankar Sen, MD & CEO of Senco Gold, observed a rise in wedding-related gold purchases during Dhanteras. He noted that many consumers began shopping early in preparation for the wedding season, which will span from November 2024 through February 2025. A recent duty cut in August spurred early purchases, increasing footfall and demand in stores.
Destination Weddings Gain Popularity
The demand for destination weddings has grown significantly, particularly as travel restrictions have eased. Vaibhav Sadhwani, Co-founder of Behind The Scene Weddings, shared that more couples are choosing scenic locations to celebrate their weddings, turning them into memorable vacation experiences for their guests. Domestic hotspots such as Rajasthan, Goa, and Udaipur remain popular, while international destinations like Thailand, Bali, and Dubai are increasingly favored.
Outlook for the Wedding Season
This year’s wedding season highlights a robust economic boost, with a strong demand for both traditional and destination weddings. As retailers, jewelers, and service providers prepare to meet this surge in consumer demand, India’s wedding season is set to bring a festive economic boom that supports various sectors across the country.
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