A year after DeMo, the wedding season is back with a bang.
Around the time of DeMo, most of the weddings were rescheduled, the budget was reduced by 50%-80% and the effect of the same left the jewellery and designer wear industry was on life support. The big fat Indian wedding got trimmed drastically.
Fast forward one year:
With cash back in circulation and vendors getting used to online payment modes – The big fat Indian wedding is back with a bang!
Demand for destination weddings has grown considerably, most of the payments are now made online, families have increased their budgets.
According to a report, the Indian wedding industry is about Rs. 1,00,000 crores and is growing at 25%-30% annually.
The report pegged the estimated cost of a wedding between Rs. 3 lakhs and Rs. 8 crores.
Trends this year:
This season, people are spending less on showing off and more on experiences.
Guest lists are shrinking, the decor is getting more personalised, and the amount of spend on photography and travel is increasing.
The Jim Corbett park and Mussoorie are emerging as smaller offbeat wedding destinations.
The wedding industry has always survived in a crisis. In 2008 when the Indian economy went through a slowdown. In spite of the recession, the industry survived.
Clearly, this wedding season, it’s not band baj gaya of the negative kind.