The research arm of Confederation of All India Traders (CAIT) this year expects the wedding business to register a record with around 35 lakh weddings and a business of around Rs 4.25 lakh crore, the highest ever.
Traders Gearing Up For Upcoming Wedding Season
It appears that the traders across the country including the national capital, Delhi are gearing up and preparing themselves for the upcoming wedding season.
The first spell of this wedding season will be commencing from November 23 till December 15.
The National President, CAIT, B C Bhartia said, “In Delhi alone, more than 3.5 lakh weddings are expected to take place in this season, which is likely to generate a business of about Rs 1 lakh crore in Delhi itself. Last year, around 32 lakh weddings took place in the same period and expenses were estimated at Rs 3.75 lakh crore.”
Boom In Wedding Business
During the 23 days of the wedding season, 6 lakh weddings are expected to happen and will have an estimated expenditure of Rs 3 lakh per wedding.
For around 10 lakh weddings, the cost per wedding will be around Rs 6 lakh per wedding, according to CAIT Secretary General, Praveen Khandelwal.
Adding, “Around 12 lakh weddings will cost about Rs 10 lakh per wedding, 6 lakh weddings will cost Rs 25 lakh per wedding, 50,000 weddings will have Rs 50 lakh expenditure and 50,000 weddings will have a budget of Rs 1 crore or more.”
The coming phase of the wedding season will start from mid- January and will continue till July.
Further, Bhartia added, “In view of the good business prospects of the wedding season, traders across the country have made elaborate preparations. Traders are keeping all arrangements up to date with them to meet the possible rush of customers. They said that about 20 percent of the expenditure of each marriage goes to the broom-bride’s side while 80 percent of the expenditure goes to other third agencies working in solemnizing the marriage.”
According to Khandelwal, the banquet halls, hotels, open lawns, community centers, public parks, farm houses and many other types of places for weddings are fully prepared across the country including Delhi.
Adding, “in addition to the purchase of accessories at each wedding, a wide variety of services are also involved, including tent decorators, flower decorations, crockery, catering service, travel service, cab service, welcoming professional groups, vegetable vendors, photographers, videographer, band-baja, shehnai, orchestra, DJ, horses for the procession, wagons, lights and many other types of services are likely to do big business this time. Along with this, event management has also emerged as a big business prospect.”
