Let's break down the Indian Wedding Market in India:
Gold and Diamond Jewellery: ₹90,000 Crore
Apparel: ₹50,000 Crore
Durable Goods: ₹30,000 Crore
Hotel: ₹7,000 Crore
Venue Decoration: ₹10,000 Crore
Wedding Invitation Cards: ₹10,000 Crore
Bridal Mehndi: ₹5,000 Crore
Photography/Videos: ₹1,500 Crore
Entertainment/Music Groups: ₹1,000 Crore
Miscellaneous: ₹5,000 Crore
Travel: Total 1/10 of the total travel industry Source: ICMAI (2018)
And of course, there are direct and indirect employment opportunities people are getting because of the big fat Indian Wedding.
The total size of this market is ₹2.10 lakh crore, and there is only one company listed in this space (Party cruiser - Not a recommendation). However, there are at least 10 big players who directly or indirectly benefit from the big fat Indian Wedding:
Arvind Fashions
Hero Motorcorp
Indian Hotels
Kalyan Jewels
Raymond
Taj GVK
TITAN
Vedant Fashions (Manyavar)
WELSPUN Living
THANGAMAYIL JEWELLERY
We need to address current challenges where people are spending their lifetime savings (a large percentage). How can we educate or share the benefits of having a low-key affair wedding with a flavor of celebrated wedding?
Please share your views. Thanks.
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