The Great Indian Wedding extravaganza is around the corner and, by all accounts, is going to be more lavish than ever. According to the Confederation of All India Traders, about 35 lakh weddings are expected to be solemnised between November 23 and December 15. It estimates a whopping ₹4.25-lakh crore to flow into the economy on the back of spending on wedding-related purchases and services.

Praveen Khandelwal, Secretary General, CAIT, said expenditure per wedding is expected to start at about ₹3 lakh and can go up to as much as ₹1 crore. “We estimate that about 6 lakh weddings will have an estimated expenditure of Rs 3 lakh each. About 10 lakh weddings will see an expenditure of about ₹6 lakh per wedding. Nearly 12 lakh weddings will cost about ₹10 lakh per wedding, and we expect about 6 lakh weddings will see expenditures of ₹25 lakh each,” he said.

In the upper bracket, there could be about 50,000 marriages that will have a budget of ₹50 lakh or more and another 50,000 weddings that could see spends of ₹1 crore per wedding, he said.

Sales boost

The traders’ body expects nearly 3.5 lakh weddings to take place in the Delhi region itself. It noted that players across a wide range of categories are expected to see a sales boost due to the weddings. This includes apparel, footwear, sweets, crockery, dry fruits, groceries, decoration items, and electrical and electronic goods, among others. The events industry, which includes catering services, travel services, videographers, and DJs, are anticipating a good season.

Consumer products and services companies that have faced several quarters filled with inflationary pressures are hoping for a revival in discretionary spending over the next 2-3 months.

“We are witnessing robust demand for wedding-related services this season. Weddings are deeply emotional occasions, prompting individuals to expand their budgets beyond their usual means. While inflation impacts various aspects of life, the emotional significance of weddings remains largely unaffected,” said Vikaas Gutgutia, Founder and MD, FNP Weddings & Ferns N Petals. The company offers a range of wedding-related services, including wedding venues.

Jewellery sales

Jewellery companies are also expected to see robust sales. In a BSE filing earlier this month, Kalyan Jewellers stated, “We continue to be encouraged by the underlying robust momentum in footfalls across all our major markets and are gearing up with fresh collections and campaigns for the upcoming festival and wedding season across the country.”

Salil Kapoor, CEO, Hindware Home Innovation Ltd, said, “The wedding season always gives an added boost to sales as it usually comes close on the heels of the festival season in the second half of the year. Appliances and home products across categories see an uptick in sales.”