After a successful Diwali season, traders across the country are now gearing up for big business opportunities in the upcoming wedding season, which is scheduled to begin with Dev Utani Ekadashi on November 12 and continue till December 16. .
According to a study conducted by Confederation of All India Traders (CAIT), the retail sector, including both goods and services, is expected to benefit from around 48 million weddings, generating business worth close to Rs 600,000 crore. Masu.
Last year, an estimated 3.5 million weddings took place during this season, generating business worth Rs 4.25 billion.
This year, the number of auspicious wedding dates is expected to increase significantly. While there were 11 auspicious days in 2023, there are 18 auspicious days this year, further boosting trade, CAIT claimed. It is estimated that 450,000 weddings will take place in Delhi alone.
-
clock: Wedding season could generate business worth 6 billion in the country
According to Acharya Durgesh Tare, chairman of the Vedic and Spiritual Committee of CAIT, the auspicious days of this season are November 12, 13, 17, 18, 22, 23 and 25. , 26th, 28th, 29th and December 4th and 5th. 9, 10, 11, 14, 15, 16.
After this period, the wedding season will be on hiatus for approximately one month from mid-January 2025 until it resumes in March.
CAIT derived these business forecasts based on consultations with major business organizations in 75 cities, particularly those dealing in wedding-related products and services.
Praveen Khandelwal, Director General of CAIT and Member of Parliament from Chandni Chowk, said the survey shows that people prefer Indian products over foreign products, reflecting the success of Prime Minister Narendra Modi’s ‘Voice of the People’. It also highlights changes in consumer purchasing behavior. local” and “Atmanirbharat” vision.
Khandelwal pointed out that while these estimates are based on auspicious dates, many weddings can also take place on inauspicious days. Additionally, various pre-wedding functions such as mehendi, sangeet, and engagement also cost a lot of money.
Khandelwal further said that wedding expenses are divided into goods and services, with the main spending areas being clothing, sarees, lehengas, apparel, jewellery, electronics, electronics, dry fruits, sweets, snacks and groceries. and vegetables, gift items, among others.
In the services sector, spending is expected to cover banquet halls, hotels, venues, event management, tent decoration, catering services, floral decorations, transportation and taxi services, photography and videography, orchestras and music, lighting and sound, and other services. . An emerging trend is increased spending on social media services for weddings.
