According to the Research Analyst, Ken Research, Flourishing business of internet has been the primary factor that has contributed towards the changing trends in wedding industry. The traditional ways of seeking a life partner have been replaced by the online matchmakers and this new concept of seeking potential partners has grown at a phenomenal rate in India. Nowadays, the young generation has become in charge of their marriage decision such as the person, time and place of marriage. Matrimony websites such as Bharat matrimony, Shaadi.com and Jeevansathi.com, a late entrant are the prominent players in wedding industry for matchmaking, have dramatically changed the nature of seeking the life partners by providing wedding services through internet and mobile platforms. They have also begun to expand customer service and reach with by establishment of brick and mortar stores across the country. These have also extended their reach to meet the requirements of various communities based on different religion and rituals.
It has also been witnessed that wedding planners are not only preferred by elite class of the society but also they have become approachable for middle class, due to provision of customized services on the basis of budget. Since this segment of wedding industry is generating mushrooming business lot of couples now prefer destination weddings where Jaipur, Udaipur, Goa, Singapore and Bali are the most popular destinations because of their good infrastructure and availability of royal palaces and forts. With the clients requesting for extremely different and unique weddings the business of wedding planners will continue to observe an uptrend and their expertise and skills will further contribute in earning more and more in the near future. according to the Research Analyst, Ken Research.
An average middle income family approximately has been observed to generally spend one fifth of their savings on weddings. Considering the estimated budget of an Indian wedding in metropolitan cities, wedding budget has ranged between INR 2.5 million to INR 15 million and above whereas considering the rural areas comprising of lowest section of the society, cost of weddings ranges between INR 0.1 million to INR 1 million in India.
Online matchmaking has emerged as new and a popular medium of seeking life partners by providing them access to numerous profiles and hence, assist them to approach potential bride/bridegroom according to their preferences. In India, to name a few market players shaadi.com, bharatmatrimony.com, jeevansaathi.com and simpymarry.com offer matchmaking services through online platforms. according to the Research Analyst, Ken Research.
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