The grand opulence, décor and grandeur, woven with brands and makeover, followed by the traditional ‘band-baja’, the big fat Indian wedding is stylised business endeavour of a lifetime. Experts claim that there are about 10 million weddings in India every year, which makes it an opportune market.
The wedding industry is a contribution of several big and small businesses that include decorators, caterers, florists, trousseau and jewellery. Voila wedding is more than the nuptial ties and marriage of families.
In a year people spend an estimated total of anything between Rs 1,00,000 crore to 1,10,000 crore on weddings as per a study conducted by Technopak Advisors, a leading management consulting organisation.
Indeed the wedding shopping is an expensive affair. While 50 per cent of the estimated Rs 60,000 crore of the jewellery market goes in the exclusive wedding purchase, about Rs 10,000 crore is spent on apparel. This is mainly because, as experts point out, “Traditional Indian wedding clothing has undergone a makeover to catch up with the latest fashion trends. There are various accessories that make the traditional clothes even more spectacular.”
Similarly, the expense on furniture, durables and household items, though variable depending on the priority of items from refrigerators to iPods, comes to roughly Rs 30,000 crore. The remaining expenditure of about Rs 40,000 crore is spent on food, drink, and various arrangements for the special occasion.
Beating the recession blues and wishing to create a unique wedding that will turn talk of the town, the prospective brides, grooms and their families are exploring the best buy options. Even in the bleakest economic situation, the business in wedding has many national and international players creating trendy impressions of “simplicity and elegance” with their products.