Encouraged by the vigorous business in the festive season of Diwali this year, traders across the country, including Delhi, are now preparing themselves for one another bonanza -- the wedding season which will begin on November 14 through December 14.
During this period, around 32 lakh weddings will be solemnised across the country with a massive flow of about Rs 3.75 lakh crore by way of wedding purchasing and obtaining various services in the business being conducted by trading community, as per a survey conducted by the CAIT Research & Trade Development Society.
CAIT said during the season, about 5 lakh weddings will have an estimated expenditure of Rs 3 lakhs each, while in about 10 lakh weddings the cost will be around Rs 5 lakhs each. Ten lakh weddings will cost Rs 10 lakhs each, 5 lakhs marriages will cost Rs 25 lakhs each, 50,000 marriages will have Rs 50 lakhs expenditure each and another 50 thousand marriages will be such in which Rs 1 crore or morewill be spent!
Overall in this one month, around Rs 3.75 lakh crore will flow through the wedding purchases in the markets, the survey revealed.
The next phase of the wedding season will start from January 14, 2023 and will be continued till July.
CAIT said that in Delhi alone, more than 3.5 lakh weddings are expected to take place in this upcoming season, which is likely to generate a business of about Rs 75,000 crore. Last year, around 25 lakh weddings took place in the same period and expenses were estimated at Rs 3 lakh crore.
CAIT said that in view of the good business prospects of the wedding season, traders across the country have made elaborate preparations as they want to continue the sentiments emanated from just concluded record business figures of Diwali this year.
Traders are keeping all arrangements up to date with them to meet the possible rush of customers. They said that about 20 per cent of the expenditure of each marriage goes to the broom-bride's side while 80 per cent of the expenditure goes to other third agencies working in solemnising the marriage.
CAIT informed that before the wedding season, a large amount of business has already occurred in the repair of houses. Apart from this, jewellery, sarees, lehengas, furniture, readymade garments, clothes, footwear, wedding and greeting cards, dry fruits, sweets, fruits, worship items, grocery, food grains, decoration items, home decoration items, electrical utility, electronics and many gift items etc are usually in demand and it is expected to do good business this year.
Banquet halls, hotels, open lawns, community centres, public parks, farm houses and many other types of places for weddings are fully prepared across the country.
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, 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.