Tying the knot this year? 48 lakh weddings seen generating Rs 5.9 lakh-crore business in November & December

Wedding Season Sales Rush: As India prepares for a grand wedding season, traders anticipate a big boost in sales with an estimated 48 lakh marriages estimated to take place in November and December generating business to the tune of Rs 5.9 lakh crore, according to the Confederation of All India Traders (CAIT). A "big bang" wedding season is projected to give an unprecedented boost to the economy, with Indian products—once again—expected to overshadow their foreign counterparts, according to CAIT, an association of traders with crores of members. The industry body projects about 4.5 lakh weddings to be organised in the national capital alone during this period, generating business worth Rs 1.5 lakh crore. 

The wedding season in India begins on November 12 this year. Typically, the wedding season in the country leads to additional footfalls and higher demand for a wide array of products and services ranging from clothing, footwear, jewellery, catering, transportation, decoration, and videography.    

The trade body also highlighted that merchants across the country are preparing for an "unprecedented economic boom" this year with the onset of the wedding season. 

The estimated number of weddings in the 2024 wedding season translates to an increase of more than 37 per cent over the corresponding months last year, with the sales of goods and services projected to grow almost 39 per cent, according to CAIT. 

What's driving the boom this year?

Apparently, there are 7 additional days considered auspicious this year compared with 2023. According to CAIT, there are 18 auspicious dates in the upcoming wedding season.

This study has also revealed that consumers are increasingly prioritising Indian products, reinforcing the Prime Minister's call for 'vocal for local' and 'Atmanirbhar Bharat' (Self-reliant India), said Praveen Khandelwal, National Secretary General of CAIT and Member of Parliament from Chandni Chowk in the national capital. 

"Indian products have made significant inroads in the market, and their demand has increased dramatically, overshadowing foreign goods. This indicates a bright future for Indian products in the country," added Khandelwal. 

The glittery and glamorous wedding season in India...

Generally spanning from October to February, the wedding season is a bonanza for businesses in India, characterised by a surge in spending which makes it a crucial revenue generator for a host of industries.

It is during this period that jewellery sales surge—driven by demand for exquisite pieces—in the country, often leaving bullion prices inflated, while luxury the clothing and textiles categories also see significant uptake, besides electronics and home appliances.

The hospitality and travel sectors thrive, with peak bookings for weddings and honeymoons, while retailers capitalise on the demand by offering festive discounts, exclusive collections, and personalised services.