Marriage is one of
the most fundamental institutions of society. It facilitates the gratification
of economic, physical and psychological needs of an individual. Thus, as a
social institution, marriage can be viewed as a negotiating agency between
social roles and responsibilities, and individual’s urges and inclinations. The
continuity of existence of society and its development as also the realization
of the values of life in human society have all been possible as a result of
the institution of marriage. Due to internet and technology modernization, Online
Matrimonial has substantially changed the market of wedding.
Online matchmaking has brought new opportunities to the wedding industry like
no one. Earlier, in countries like India are only interested in arranged
marriage due to unavailability of choices. But now, many new start ups
for matrimonial services have emerged to fulfill gap between arranged and love
marriages.
The wedding
industry in India is flourishing and statistics corroborate the
fact. India is known for its colorful
culture and weddings are the best places to observe its varied traditions.
Apart from being a symbol of culture, it is fast becoming a lucrative business
opportunity. With each passing year, Indian weddings are getting bigger and
better, and so is the business involved, from designers, caterers to planners.
As it is expanding in a very high number, let us have an inside look at the
industry and its forces. Indian
wedding industry is going like never before due to Online
matchmaking and many eligible interested bachelors are making
matrimonial registration to complete their partner search.
 |
| Percentage of Arranged vs Love Marriage |
Wedding Statistics:
- No. of Indian marriages in a year: Approx 1 Crore
- Indian wedding market worth: 150-200 Billion
- Growth in Wedding market: 25 to 30 percent annually.
- Total paid subscriptions on matrimony websites: In Millions
- Downstream Growth: Matrimonial Services, Wedding Planners etc.
- Venue, Decoration, Catering market: 15-20 Billion in India
Statistics:
We can tell that
consumers are starting to trust online websites for matrimonial services for their wedding
partner selection and this trend has mainly started in early 2000. The wedding
industry in India is currently over Rs 100,000 crore and is growing at
25-30% annually. The estimated cost of a wedding with no expenses spared could
be between Rs 5 lakh to Rs 5 crore, in India. A person, in India, spends one
fifth of the wealth accumulated in a lifetime on a wedding ceremony.
Considering the demographic dividend, it would not be wrong to assume, with
half of India's population being under 29 years of age, the marriage market is
set to boom like never before over the next five to ten years. There are
several secondary markets and segments benefiting from this boom, like gold and
diamond jeweler, apparels, decoration, makeup etc. The wedding planning
industry is also booming. Last year, the wedding planning industry was summed
at 40 billion.
Consumer trends in 2015 in Wedding industry:
With global trends
entering the indigenous market, Indian weddings are becoming a more corporate
look and feel, moving away from traditional themes. People spend more per guest
and try to integrate their love stories and interests in the decor, food and
themes. High growth in online
matrimonial and online matchmaking is noted. Destination weddings
are getting more exotic, with many weddings happening in Turkey, Europe, Sri
Lanka, and more remote destinations in India. People became more & more
fashion inclined, lot of experimentation, drama. Consumer spent a lot of time
cross comparing Handlooms category grew third times compared to last year. We are seeing increase in buying of heavy
marriage dresses and sarees online. With few websites starting to offer home
trial etc. this trend will change further in coming years as it makes it very
easy for the consumers to buy their outfits online without wasting lot of time.
 |
| Matrimonial Rate Per Year |
Expectations from 2016-2017 wedding season:
People will continue
to see a high degree of personalization, and also a willingness to experiment
with traditions. Brides now prefer to
wear gowns instead of a traditional saree to their receptions, depict their own
love story on their reception. Technology has also taken over the wedding
season & so has buying habits. Lot of families & planners alike are
coming online to check latest trends in this wedding season. It also help in
employment generation. It continues to be significant with the wedding industry
growing 25-30% per years. It adds over 3 lakhs jobs a year.
Region wise trends PAN India:
People spend with
different amount of money with respect to different parts of India. North India
leads in wedding spend Kerala weddings focus more on gold. Overall Indians
spend a lot of money with lavish manner with respect to other countries. Many employment due to online
matrimonial and service providers in India and abroad.
With the ongoing wedding season one can’t help but notice that the Indian wedding industry is a huge one.
In an Indian wedding, everyone just spends and does not think of returns. Every
manufacturer and retailer involved with marriage related goods eagerly awaits
the season to push business. The marriage market is set to boom like never
before over the next five to ten years.
Visit www.wmmatrimonial.comto get more blogs and ideas for marriage statics
in India.
Reference By:
https://en.wikipedia.org/wiki/Marriage
https://en.wikipedia.org/wiki/Matchmaking
https://en.wikipedia.org/wiki/Arranged_marriage
Social Media Reference:
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