With a solid 15-20% growth rate year-on-year, the wedding market has huge untapped potential in India for startups to flourish
Wedding startups provide end-to-end solutions ecommerce and bookings
The estimated market value of the Indian wedding industry is $50 Bn
The Indian wedding industry is the second largest in the world, behind the US. Considered an important milestone for families, weddings are flamboyant affairs in India, so much so that an average Indian spends nearly one-fifth of their life’s earnings on weddings.“The wedding segment was not highly advanced in terms of technology when we were starting out. Triggered by this idea, we launched Weddingz.in to satisfy the increasing need for the new-age, tech-savvy customers to provide a reliable and organised wedding venue along with other supplementary offerings,” Sandeep Lodha, CEO, Weddingz.in, told Inc42.“We say we are not wedding planners, but a production company. This is because we, the founders, all come from filmmaking backgrounds. Hence, the transition from creating concepts for the screen to making one’s dream wedding come to life was a very natural one,” Shaadi Squad cofounder Tina Tharwani told Inc42.“Anyone who is in the market needs to be able to provide solutions to families across price points, religions, and cultures. Although this makes it challenging to build a very robust portal, it is also really exciting to be able to deliver a multi-faceted solution,” The Wedding Brigade’s Vohra told us.“It could be bad weather during an open roof wedding or unavailability of resources for décor or catering. However, the key is to foresee the potential challenges and keep an alternative or Plan B for such situations,” says Weddingz.in’s Lodha.
More than 10 Mn weddings take place in India each year, amounting to a staggering 30K weddings a day! The estimated market value of the Indian wedding industry is $50 Bn, with a growth rate of 30% per annum. As per data available, an average Indian spends an estimated one-fifth of his/her lifetime wealth on weddings.