Showing posts with label matrimony classifieds. Show all posts
Showing posts with label matrimony classifieds. Show all posts

Saturday, December 21, 2013

Want To Save The Indian Economy? Get Married

If you are of my age then you would probably empathize with me. Every time I login to Facebook, I see the wedding pictures of some or the other friend of mine. Though I had anticipated this scenario long back but I could have never anticipated the fury with which it would strike upon me. If you are not going through this phase, then brace yourself. Because sooner than later, those pics are coming. It is bound to happen. With 1.25 billion people and almost 50% of the population below the age of 29, the 'wedding pictures flood' is unavoidable. So sit tight, coz as they say, winter is coming. 

But it is not just about the wedding pictures. After a couple of weeks, people follow it up with the 'honeymoon pics' post. These posts are like 'click baiting'. I click on the pics, super excited, only to see a fully dressed couple with mountains/sea/highway/FatUncle in the background. Not much of a view if you ask me.  

Free Tip : Unless you are planning to post some indoor pics, do not imagine too many people getting interested in your honeymoon pics. 

Also, what is with people going on wildlife safaris and trying scuba diving on honeymoon. Din't they have an overdose of adventure recently. Do they forget that they just got married. And is watching tigers eat, in company of a guide and 20 other people, even considered romantic? 

The fact is, if you are having too much 'fun' on the beach or on the hills, then the trip is less likely to serve its true purpose. Get the priorities straight.    

Anyways, enough of introduction. This post isn't really about couples and wedding pictures. Its more about the economics of it. Recently, I read an article about online matrimony classifieds space. With players like Shaadi.com and BharatMatrimony, it is poised to become a Rs. 1500 crore industry. This got me curious and I tried to read more about the Indian wedding industry. And this is my conclusion:    


If you think you should do something about the sorry state of Indian economy or want to help in the fight against poverty, then this is what you should do


Get Married Now. Make it Grand. Do it as often as you can. 


If, because of such behavior, your spouse kills you one fine day, you will die a martyr.

Apart from enjoying the obvious benefits of having multiple life partners, a 'serial' groom or bride does a big favor to the country. Well we all know how important is the rotation of capital for any economy. The faster money changes hands, the better it is. But also, its important to understand that weddings probably have the highest multiplier when compared to other government/private spendings. The amount of activity induced by every rupee spent on a wedding is staggering. Let me tell you why.  

Let's see some simple facts first. 

Indian wedding industry is worth $25.5 billion (Almost INR 158062 Crore). This is more than the GDP of Afghanistan and 20 times of the Indian cloud computing industry.

  • No. of Indian marriages in a year: Approx 1,00,00,000
  • Gold and diamond jewellery market worth: Rs 60,000 crore
  • Apparel market (wedding) worth: Rs 10,000 crore
  • Durable goods market worth: Rs 30,000 crore
  • Hotel and other wedding related market worth: Rs 5,000 crore 
  • Pandal and venue decoration market: Worth Rs 10,000 crore
  • Wedding invitation card market : Worth Rs 10,000 crore 
  • Bridal Mehendi market in India: Worth Rs 5000 crore
Source: IndianRetailer.com


And guess what, this this is just the tip of the iceberg. These figures only indicate the amount of money spent by the families of groom and bride. But we all know how much preparation guests do before attending a wedding. 


An invitation to a wedding invokes more trouble than a summons to a police court. - William Feather 

Remember the cute girl who swept you off your feet at your cousins wedding? Well that kind of cuteness does not come for free. There is a lot of preparation that goes into it. Everyone tries to look their best. Money spent on looking good in someone else's wedding is an investment they say. (I tried this at my brother's wedding. No ROI yet)

Add to it the boost to tourism which wedding related travel provides. Apart from pilgrimages, no single category boosts tourism more than weddings. Travel agents make a killing and traveling by bus or train becomes an adventure sport. 

Then there is the gifting market. Largely due to the concept of giving return gift to close relatives. Though its going out of trend fast, it still beats valentines day and other such festivals hands down.


And we've got a toaster and everything. So there is no reason for the wedding. - Karl Pilkington  

But the numbers only tell you half of the story. The fascinating thing about a wedding is the number of people involved in the event and the number of lives it touches. 

If we try to create a list of all people involved, it will take forever. The 'tent house waala', florist, eunuchs, match makers, wedding venues, event manager, DJ, caterer, bus operator, car rental guy, IRCTC, everyone who makes money on railway stations, beauty saloons, clothing stores, accessories stores, fragrances stores, pandits, printing press, mithai waala, Ghodi Waala, band baaja, dhol, dance trainer, stage decorator, electrician, gardner, camera man, hotels. 
The list can go on and on.

And this is exactly what makes weddings so special. This is what gives it a huge multiplier. The fact that the money goes to so many different people. The fact that many industries rely fully on the wedding season. The fact that the industry is recession proof. The fact that the nature of the wedding season is cyclic yet not uncertain. 

So go ahead, celebrate consumerism, raise a toast to the 'big fat Indian wedding' and keep it coming.