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Business News/ News / India/  Almost 40% millennials spend on their own weddings: survey
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Almost 40% millennials spend on their own weddings: survey

About 40% millennials are spending on their own weddings, while most couples are focusing on quality over quantity and also cutting short their guest list

Themed and personalized weddings are emerging as the latest trends this year. (Getty Images)Premium
Themed and personalized weddings are emerging as the latest trends this year. (Getty Images)

After a lacklustre 2021 marred by two covid waves, it is wedding boom this year. Around 31% vendors in the wedding industry have increased their charges due to high product and labour costs, as per a new survey, which also found that most couples are now focusing on quality rather than quantity and also trimming their guest list.

According to the survey by WeddingWire India, millennial couples are taking charge in handling payments for their weddings with about 39.8% spending on their own weddings.

WeddingWire India, the Indian subsidiary of The Knot Worldwide, an online marketplace for wedding makers and professionals, interviewed 220 vendors across India for the study.

Themed and personalized weddings are emerging as the latest trends in the market. Couples are also gravitating toward sustainable options for their big day.

“It is true that the pandemic has drastically changed the wedding ecosystem. Hence, to understand our stakeholders -- vendor partners and couples and their changing mindsets better we conducted this survey. ‘WedTech’ platforms are gaining popularity and becoming the key source of leads for wedding vendors is a true testament to the fact that it has disrupted the wedding industry," Anam Zubair, head of marketing for the firm said.

While word of mouth or oral reviews are the biggest source of leads for wedding vendors (38.9%), these digital platforms are increasingly gaining prominence. 21.3% of vendors get their leads from wedding websites and apps followed by social media (20.8%).

The survey found that it is around three months prior to the wedding that couples start booking wedding services. It added that 44% of couples start making reservations one-three months before the big day and, in fact, almost 15% of couples are now booking their wedding venues only one month prior to the wedding. This showcases how the pandemic has altered consumer behaviour.

The survey reported that the per month earnings of 42.5% of wedding vendors have gone up in 2022 as compared to 2019.

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ABOUT THE AUTHOR
Varuni Khosla
Varuni is an Assistant Editor at Mint. She writes engaging and informative stories on luxury brands, hospitality news, business of sports, business of advertising and marketing, gaming, tourism and travel, and the business of alcohol. She is skilled in communication, research, and analysis. Varuni is passionate about covering the latest trends and developments in the lifestyle and business sectors.
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Published: 23 Aug 2022, 01:59 PM IST
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