Wedding season sales: The upcoming wedding season from Dev Uthan Ekadashi on November 23 to December 15 is expected to generate business worth Rs 4.5 lakh crore with around 35 lakh weddings likely to be solemnized during the period, said traders’ body Confederation of All India Traders (CAIT) in a statement on Tuesday.
According to the CAIT National President BC Bhartia and Secretary General Praveen Khandelwal, the Delhi region alone may host 3.5 lakh weddings, generating Rs 1 lakh crore in the region. Last year, about 35 lakh weddings took place during the same period, generating business worth Rs 3.75 lakh crore.
Categorizing the wedding as per their expected average expenditure, Bhartia and Khandelwal stated that about 6 lakh weddings will have an estimated expenditure of Rs 3 lakh per wedding, while in about 10 lakh weddings the cost per wedding will be around Rs 6 lakh per wedding, 12 lakh weddings will cost about Rs 10 lakhs per wedding, 6 lakhs weddings will cost Rs 25 lakhs per wedding, 50 thousand weddings will have Rs 50 lakhs expenditure per wedding and 50 thousand weddings will be such in which Rs 1 crore or more money will be spent.
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The next phase of the wedding season shall begin from mid-January till July. As per the release, the businesses to benefit the most from weddings are jewellery, sarees, readymade garments, furniture, footwear, ethnic wear, food grains, decoration items, electric and electronic equipment, and banquets/hotels. Indirectly, painting and repairing materials for houses are also expected to benefit.
Other than this, services industries such as tent decorations, crockery, catering services, travel services, cab services, vegetable vendors, videography, DJs, wagons and procession businesses may witness great business during the season, CAIT said.
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Earlier CAIT predicted the festive season beginning from Raksha Bandhan till Diwali to see around Rs 3 lakh crore business for traders. Before that, ahead of the Holi festival, CAIT had expected around Rs 25,000 crore of business for traders and retailers, up by approximately 25 per cent from the previous year’s sales.