Boom times return for the wedding service sector

A large number of Hindu weddings are held every year in November and early March, but the outbreak of Covid had brought large gatherings to a sudden halt.

Neha Arora, co-founder of wedding planning company Saffron String said that over the years many people have opted for subtle weddings, but luxury weddings are making a comeback. “We have also seen many more people opting for weekend weddings with welcome parties and day-to-day brunches, which only means that families are expanding the scope of their weddings beyond traditional events. There has been a drastic change in the way people celebrate the occasion.”

Mumbai-based Achint Nag, founder of Crayonz Entertainment and Wedding Planners, said big fat weddings are definitely back for now – and hopefully will be here. The company is also facing a flood of questions for the next season starting from November 2023.

According to Nag, the cost of marriage has increased by almost 30% since 2019, which is the last year of Indian weddings before the Covid hit. “Manpower and logistics cost is at an all-time high. Weddings are more expensive because there is a huge increase in demand. There are limited spaces for large gatherings and hence, the prices of good hotels have also increased by 30%. It is purely a demand-supply function.”

FNP Venue and FNP Weddings are owned by Ferns N Petals Pvt Ltd. Ltd said the amount spent on weddings has almost doubled as compared to the pre-pandemic expenditure. In the first half of the year, its wedding business saw a 20% increase in revenue from 2019. Revenue from weddings constituted 25% of its total business, which was approximately 650 crores.

In a recent report, wedding planning website WedMeGood said that average booking volume for sellers has increased by at least 16%. But some categories are seeing more growth – decorators are now charging 20% ​​more – while invitation designers have seen no growth due to the popularity of e-invitations. The average guest list has increased by 40% from last year’s 180, the company said.

Kush Kapoor, CEO, Roseate Hotels & Resorts, a company that has upscale and luxury hotels, said he is looking forward to a very busy wedding season. According to its estimates based on bookings and inquiries, Rosette Hotels will see more revenue from weddings this year as compared to 2019.

“We have seen a 30% increase in the number of queries, and expect at least a 40% increase in revenue as compared to 2019. Even though there are no restrictions on the number of guests now, people are preferring intimate weddings and pre-wedding ceremonies, and in turn, are spending more on food menus, drinks and decorations for premium offerings.” He said hotels have increased the prices of their meals to make up for the costly ingredients.