Wedding.net Aims To Disrupt Rs 100,000 Crore Worth Booming Indian Wedding Market!
It is famously said that an average Indian spends one-fifth of his lifetime’s income on a wedding ceremony.
And if we observe the numbers and the emotional/sentimental importance attached to a wedding ceremony, then we will find this statement not too far stretched.
Globally, wedding is a $300 billion (Rs 20 lakh crore) market, and in US alone, close to 500,000 wedding based business provide employment to more than a million people.
In India, the wedding market has been estimated to be a $17 billion (Rs 108,000 crore) market, which is expanding at an incredible rate of 25-30% per year. Every wedding in India costs anything between Rs 5 lakh to Rs 5 crore, depending on the budget and expectations of the families involved.
In 2006, when hotelier & actor Vikram Chatwal married a model and investment banker Priya Sachdev, Rs 100 crore was the estimated expenses. Last year, when ex-minister and business tycoon Janardhana Reddy arranged a wedding for his daughter, estimated Rs 500 crore was spent on the lavish wedding.
Wedding.net, which is part of business conglomerate Plusmedia.ru, has now ventured into India, to tap the booming Rs 100,000 crore market, and carve a niche for themselves.
Wedding.net: A Unique Business Model Based on Wedding Services
There are approximately 1 crore weddings being arranged in India, every year. And a wedding ceremony is a big event, wherein a team of experts from various industries are required to pitch in, and help each other.
- Rs 60,000 crore worth of gold and jewellery is bought for weddings in a year
- Rs 10,000 crore worth of apparels are bought for weddings in a year
- Rs 30,000 crore worth of durable goods are bought for weddings in a year
- Rs 5,000 crore worth of hotel rooms are booked for weddings in a year
- Rs 10,000 crore worth of Tents, pandals are set-up for weddings in a year
- Rs 8,000 crore worth of wedding cards are bought for weddings in a year
- Rs 1-3 crore is estimated expenditure for a boutique wedding in Goa
And these are just the main expenses. Besides these, there numerous other expenses, services and requirements, which are essential and vital for a wedding ceremony.
Wedding.net is a platform, which connects these wedding services providers with the organisers of the weddings, via the online platform.
In a way, Wedding.net is a marketplace, exclusive for wedding service providers, and can prove to be the one-stop destination for all requirements related to weddings.
How does it work?
Say, you are organising a wedding in Delhi. Based on geo-location, the Delhi portal on Wedding.net will automatically open, and offering you a host of services:
- Wedding Planners
- Doli rentals
- Saree providers
- Jewellery salons
- Tent rentals
- Catering and more
As of now, there are 2205 vendors & 256 companies from Delhi, who are providing these wide array of services on the website.
Say you wish to hire a choreographer for the wedding.
All you need to do is click on the Choreographer section, choose among the best choreographers who are presently available on the portal, and contact them directly.
There is a paid section in Wedding.net as well, wherein vendors and companies can place their listings above the free listings, and get more priority. But for families which are planning the wedding, the services are free.
As per Murugavel Janakiraman of bharatmatrimony.com, 90% of online wedding market in India is still untapped. And it seems that Wedding.net has entered into India at an appropriate moment.
If you have used Wedding.net for finding wedding services provider, then do let us know your experience, by commenting right here!
Disclaimer: This is a sponsored post