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Analysis of Indian Wedding Planning Industry
Rajesh Kumar, IIM L

ConQuest Online January 2012 Edition

ConQuest, IIM Shillong Consulting Club

Analysis of Indian Wedding Planning Industry
Rajesh Kumar, IIM L

Introduction
Overview of Wedding Industry

India is considered to be one of the most sought‐after wedding destinations around the world. Weddings in India are fast gaining popularity among global citizens who flock to the country to solemnize their wedding vows. It is growing at a CAGR of 25% owing to lavish spending. Currently, cost of a wedding may range from INR 0.5 mn to INR 50 mn. With India becoming a wedding destination, foreigners are aggressively contributing to a growing market. Increasing disposable income is expected to double the strength of the market in the next 15 years. Theme based weddings and destination weddings are some of the major trends that the market has observed. Characterized by social features, wedding industry manages to be resilient even to vagaries of inflation and recession. Figure: Wedding cost break-up Figure: Wedding market size in INR

Source: myeducationtimes.com “The Wedding Planner” Sep 2011

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ConQuest, IIM Shillong Consulting Club

Market Overview
Overview of Wedding Planning Industry
As wedding industry shoots with burgeoning demand for lavish events, wedding planning industry gets a boost for demand of organized and structured planning services. Wedding planning industry in India is estimated to be growing at 20% per annum. Figure: Wedding planning market size in INR

This industry is also driven by increasing affluence and rising aspirations among consumers to make their wedding unique and memorable. Time constraints among consumers towards planning and organizing weddings have been largely responsible for the growth in planners. Wedding planners are more often seen to indulge in special theme based marriages to give it an edge so that it may stand out from the rest.


References: [1] www.bigindianwedding.com [2] www.retail.franchiseindia.com – “The Flourishing Indian Wedding Industry”, Jun 2010 [3] McKinsey Global Institute – “Rise of India‟s consumer market”, May 2007 [4] www.rediff.com – “Destination dos replace the Big Fat Indian Wedding” Feb 2011 [5] The Economic Times – “New‐age wedding celebrations catching the fancy of gen next” Mar 2011 www.iims-conquest.in ConQuest, IIM Shillong Consulting Club The Team Conquest Online is the online edition of ConQuest which is a student driven Consulting club of IIM Shillong. The ConQuest Team includes Anurag Prasad | anurag10@iimshillong.in Hemant Bhargava | hemant10@iimshillong.in Manbir Singh Tandon | manbir10@iimshillong.in Partha Mitra | partha10@iimshillong.in Priyansh Modi | priyansh10@iimshillong.in Ritika Parasrampuria | ritika.p10@iimshillong.in Siddharth Jaidev | siddharth10@iimshillong.in Aritra Nayak | aritra11@iimshillong.in Arpit V Tripathi | arpit11@iimshillong.in Nimesh Nair | nimesh11@iimshillong.in Pochineni Shalini | pochineni11@iimshillong.in Rishi Gupta | rishi11@iimshillong.in Shirish Prakash Jain | shirish11@iimshillong.in Sunayna Agarwal | sunayna11@iimshillong.in Tarun Gupta | tarun11@iimshillong.in ©ConQuest, Consulting Club of IIM Shillong Comments/feedback, please mail to conquest.iims@gmail.com www.iims-conquest.in
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