MUMBAI: Marriages and shopping is a match made in heaven. Retailers and brands are expecting one to translate to the other — and see better numbers in the second half of this financial year on the back of the big fat Indian wedding. There are 47 auspicious days for tying the knot during October-March, more than three times the number of such days in the first half.
That’s about 4.8 million weddings during just October-December, generating business worth nearly Rs 6 lakh crore, according to Confederation of All India Traders ( CAIT), which surveyed businesses dealing with wedding-related goods and services across 75 cities. This is over 35% higher than 3.5 million such occasions last year, cue for a potential 40% increase in spending.
Sustained Shopping Likely
Some of this buoyancy would be in line with expectations, as this season does impact sales positively. Retailers, after a tough few months, are preparing to cash in.
“Despite urban stress, our bill size is already higher than last year, with more marriages and shoppers, which clearly indicates a revival in the wedding segment,” said Sunil Kataria, chief executive of Raymond Lifestyle. “Since we have more dates spread across five months, instead of fewer dates clubbed together a year ago, there will surely be a sustained demand momentum for the next few months.”
Parthip Thyagarajan, cofounder of WeddingSutra, a nuptial services directory provider, feels there is heightened pressure and awareness, with social media documenting everything that is worn. “The number of functions have increased, even if it's an intimate wedding. The middle class —that mostly had Bollywood as reference —has enough style inspiration from the Ambani wedding to actors’ paparazzi pictures.”
Rahul Mishra, an Indian designer who has a joint venture with Reliance Retail, sees demand as nuanced.“We will see more discretionary spending, rather than splurging across the board,” he said. “It will be more about smart spending, by being more focussed on the bride and groom, for example.”
That’s about 4.8 million weddings during just October-December, generating business worth nearly Rs 6 lakh crore, according to Confederation of All India Traders ( CAIT), which surveyed businesses dealing with wedding-related goods and services across 75 cities. This is over 35% higher than 3.5 million such occasions last year, cue for a potential 40% increase in spending.
Sustained Shopping Likely
Some of this buoyancy would be in line with expectations, as this season does impact sales positively. Retailers, after a tough few months, are preparing to cash in.
“Despite urban stress, our bill size is already higher than last year, with more marriages and shoppers, which clearly indicates a revival in the wedding segment,” said Sunil Kataria, chief executive of Raymond Lifestyle. “Since we have more dates spread across five months, instead of fewer dates clubbed together a year ago, there will surely be a sustained demand momentum for the next few months.”
Parthip Thyagarajan, cofounder of WeddingSutra, a nuptial services directory provider, feels there is heightened pressure and awareness, with social media documenting everything that is worn. “The number of functions have increased, even if it's an intimate wedding. The middle class —that mostly had Bollywood as reference —has enough style inspiration from the Ambani wedding to actors’ paparazzi pictures.”
Rahul Mishra, an Indian designer who has a joint venture with Reliance Retail, sees demand as nuanced.“We will see more discretionary spending, rather than splurging across the board,” he said. “It will be more about smart spending, by being more focussed on the bride and groom, for example.”
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