The upcoming wedding season in India is anticipated to bring a significant boost to the retail sector, with traders gearing up for a flurry of business opportunities. According to a study by the Confederation of All India Traders (CAIT), approximately 48 lakh weddings are expected to take place during this season, generating business worth nearly Rs 6 lakh crore. This marks a substantial increase from last year, when 35 lakh weddings contributed to business worth Rs 4.25 lakh crore. The increase in auspicious wedding dates this year, with 18 dates compared to 11 in 2023, is expected to further fuel the trade. Delhi alone is anticipated to witness 4.5 lakh weddings, setting the stage for a prosperous season ahead.
Acharya Durgesh Tare, Convenor of CAIT’s Veda and Spiritual Committee, provided a list of auspicious wedding dates for the upcoming season, running from November 12 to December 16. Following this period, there will be a brief pause before the wedding season picks up again from mid-January to March 2025. CAIT’s estimates are based on discussions with major business organizations across 75 cities, particularly those involved in wedding-related goods and services. The study has also highlighted a shift in consumer behavior, with a growing preference for Indian products over foreign goods, in line with Prime Minister Narendra Modi’s ‘Vocal for Local’ and ‘Atmanirbhar Bharat’ vision.
Praveen Khandelwal, Secretary General of CAIT and Member of Parliament from Chandni Chowk, emphasized that wedding expenses are divided between goods and services, with significant expenditures in areas like clothing, jewellery, electronics, sweets, catering, and more. The services sector is expected to see investments in banquet halls, event management, transportation, photography, and a new trend of spending on social media services for weddings. While the estimates are based on auspicious dates, it is important to note that weddings will also take place on non-auspicious dates. Additionally, pre-wedding functions like mehendi, sangeet, and engagements represent significant expenses, contributing to the overall business opportunities during the wedding season.
Overall, the upcoming wedding season is poised to provide a substantial boost to the retail sector, with traders across the country gearing up to capitalize on the surge in demand for wedding-related goods and services. The increase in auspicious wedding dates, coupled with shifting consumer preferences towards Indian products, is expected to further fuel business growth during this season. As traders prepare to cater to the needs of millions of couples tying the knot, the wedding season presents a lucrative opportunity for businesses to showcase their products and services and capitalize on the festive spirits of the celebratory occasions. With careful planning and strategic marketing, traders can make the most of the upcoming wedding season and make it a prosperous period for their businesses.
