Wedding season revenue: With around 38 lakh weddings likely to be solemnised in the upcoming wedding season in the country beginning November 23 till December 15, retailers and traders are expected to see Rs 4.74 lakh crore business during the period, traders’ body Confederation of All India Traders (CAIT) said in a statement on Tuesday. In comparison, around 32 lakh weddings took place during the same period last year generating trade worth around Rs 3.75 lakh crore.
“As per an estimate drawn by CAIT after talking to prominent trade bodies of 30 various cities of different states, which are known as distribution centres and different stakeholders both in goods & services, it is estimated that around 38 lakh weddings will be solemnised across the country with a massive flow of about Rs 4.74 lakh crore by way of wedding purchases and procurement of various services by the consumers having marriages in their homes,” the statement said.
According to CAIT National President BC Bhartia and Secretary General Praveen Khandelwal said that in Delhi alone, more than 4 lakh weddings are expected to take place this season, which is likely to generate a business of about Rs 1.25 lakh crore.
“About 7 lakh weddings will be performed with an expense of Rs 3 lakh, 8 lakh weddings will take place involving Rs 6 lakh, 10 lakh weddings will have Rs 10 lakh expense, 7 lakh weddings with Rs 15 lakh, 5 lakh weddings with Rs 25 lakh, 50,000 weddings with Rs 50 lakhs and another 50,000 weddings with an expense of Rs 1 crore and above,” said Khandelwal and Bhartia.
Breaking up the expenditure, CAIT said 50 per cent of expenses in a wedding are incurred on the purchase of different goods and the other 50 per cent on procuring services. In terms of goods bought, around 10 per cent is incurred on textiles, 15 per cent on jewellery, 5 per cent on electronics, electricals and consumer durables, 5 per cent on dry fruits, fruits, sweets & namkeens, 5 per cent on foodgrain, grocery and vegetables, 4 per cent on gift items and rest 6 per cent on other miscellaneous items.