New Delhi: In view of the exponential growth registered for online jobs and matrimonial alliances in 2006-07 as compared to 2005-06 , Assocham projected that 25 million eligible candidates are likely to go online to search for their perefect job and/ or matrimonial alliance through March 2008.
In the last fiscal, nearly 17 million online subscribers registered themselves to take advantage of this facility. Main reasons for doing so were because it was economical and less cumbersome.
Data compiled by the Chamber Research Bureau on “Emerging trends on rising popularity of online jobs and matrimonial alliances”, reveal that jobs and matri-alliance seeking through online sources has increased manifold.
* Between 2005-06 and 2006-07, business transacted through online ads for jobs and matrimonial alliances registered a growth of 63% and 48% respectively.
* In case of matrimonial alliances, this indicated of a much deeper phenomenon in social traits of all communities representing a substantive transformation, disowning superstitions and rituals.
* Number of jobs that can be netted through online sources could be to the tune of 15 mn by 2007-08 as against 9.5 mn for matri-alliance. Their number in the preceeding fiscal was 17 mn (10 mn for jobs and 7 mn for matri-alliance)
* Number of online job seekers was estimated close to 7.5 mn in 2005-06 which in the following year rose to 10 mn.
* Number of job explorers through online services will rise about 15 mn in current fiscal. In the years to come, this number will witness a substantial hike because of convenient, easier and economic ways to access jobs.
* In 2005-06, matri ads business transacted was worth Rs. 58 crore and for job search Rs 150 crore. This rose to Rs. 85 crore and Rs. 245 crore respectively, showing growth rate of 48% and 63% in 2006-07.
* Size of matri-ad business is likely to further go up by 60% to reach Rs. 136 crore and that of jobs by 75% to touch Rs. 429 crore in current fiscal.
* Online subscriber for matri-alliances which stood at 5.5 mn in 2005-06 rose by 2 mn and reached 7 mn numbers in 2006-07 which is projected to grow by another 2.5 mn to exceed 9.5 mn users by 2007-08.
Factors which fuel demand
Fastest growing age group is 25-34 years. India has one of the youngest populations and the fourth largest Internet Population in the world with a present figure of 100 million online Indians, which is likely to increase to 120 million by 2007-08.
Matrimonial websites are increasingly turning into a better option for the younger generation in their search for the perfect life partner. Also NRIs are zeroing in on their dream partners through the various tools that can be accessed via the web.
Interactivity, accessibility and hence effectiveness of the online medium make it a preferred medium for finding a life partner. These sites are proving to be a big draw for expatriates, living in the US, UK, Australia, New Zealand & Middle East.
Online matrimony sites offer multiple user-driven services. The trend has found so much acceptance now that even parents are agreeing and willing to pay for services on an ongoing basis. Most sites promote both free and paid subscription for a range of services (Rs 400 - Rs 950). The business model is simple and straightforward where users utilize website interface to first create catchy profiles and then pay for it.
Content is available for free to any visitor at any point in time. However, to make contact with the person listed in the profile, the user has to start paying various fees depending on the service subscribed too.
Factfile for online matrimonial search
Market size - FY 2006-2007 - Rs 85 crore
Estimated market size - FY 2007-2008 Rs 136 crore
Online matrimonial search subscribers: FY 2006-2007 – 7 mn
Estimated online matrimonial search subscribers: FY 2007-2008 – 9.5 mn
Age group: 20 - 55yrs and fastest growing age group: 25 - 34yrs
Male / Female ratio matches current internet gender ratio is 69%/ 31%
The survey also found that junior, mid-level and senior executives accounted for more than 50% of online job seekers. In addition, in keeping with the overall pattern of Internet usage, among the states Maharashtra topped the list of online job seekers followed by Delhi, Tamil Nadu, Karnataka and West Bengal. Most of the time it was noticed that 43% of online job seekers fall between 26 to 35 age group with 72% male and reaming 28 % female conclude the survey.
Factfile for online job search
Age group: 43% in the 26-35 age group
Gender: 72% male and 28% female
Top 5 states: 32% Maharashtra; 25% Delhi; 15% Tamil Nadu; 10% Karnataka; 8% West Bengal