Variety

Big fat Indian weddings are gala time for FMCG firms, portals too

| Updated on: Nov 12, 2014
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Weddings till now have been a big business for jewellery, travel and beauty firms. But now home furnishing brands, e-commerce portals and durable firms are also finding a sizeable opportunity in weddings with high-value transactions happening during matrimony.

With over 10 million weddings happening in India a year, brands are jumping into the fray to get a slice of the market.

Home linen brand Portico has tied up with designer Neeta Lulla to bring out a wedding segment, says Arunanshu Agarwal, Director. “Wedding is a huge market in India. It’s also a time when friends and family gift lavishly. We wanted to tap the category by creating a segment that will address the need of the market. Our wedding range starts at ₹5,000.”

Big monies

The Indian wedding industry is estimated at $38 billion, growing at 30-35 per cent annually. A typical Indian wedding can cost anywhere between ₹7 lakh and ₹10 crore.

E-commerce portals such as Myntra and Darveys are not too far behind. While fashion etailer Myntra is set to launch its ‘Wedding Store’, online luxury brands retailer Darveys already has a wedding specialist who creates a trousseau according to consumers’ budget.

Darveys says the company has roped in a wedding specialist “who customises products from scratch”. Nakul Bajaj, CEO, Darveys, says some of the highest orders for such services are from the tier two and three cities.

Spring mattress brand Peps also launched its Vivah Mattress brand.

Others like Findmystay.com allow consumers to find the best budget deals for guests this wedding season with a unique online hotel bidding system.

“We are all aware that weddings in India translate into immense expenditure. Finding suitable accommodation for guests visiting from every part of the world is one of the major areas where money is spent,” said Rohit Khetrapal, Co-founder, Findmystay.com.

“Our bidding model Findmystay@MyPrice helps customers book hotel accommodation of their standard at the price they are willing to pay. There is online negotiation between the customer and the hotel and customer gets to see various hotel options of his choice and his price point.”

Published on November 12, 2014

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