Big Fat Indian Wedding
INR 10-13 lakh spent per wedding in India. Average annual household income is INR 4 lakh. Assuming 2 households spending, it's 1.2-1.5x their annual income. Assuming only the girl's family paying, it's 3x annual income. It's absurd how much people love to spend to feed and entertain the people they never want to see in their lives again. Also absurd, no big startup in this space. Why is no tech bro/gal conquering the wedding space?
It gets even better:
"Interestingly, an
average Indian couple spends ~2x on weddings vs education (pre-primary to graduation), in
sharp contrast to countries such as US where the spend is less than half vs education."
Indian parents are peculiar breed. They prefer to spend savings and fortune of their lifetime on private affairs like wedding; to please a bunch of people who don't care after few days.
That same money could be better utilized for education, business or simply inheritance.
Marriages are a event where the entire clan meets. So it is a big event worth that extravaganza before. Now with the nuclear family and the sanctity of marriage falling the whole expenses do sound meaningless.
The weekly why are we not exploiting the wedding industry with some useless startup is here
You need to understand Marriage is not a contract in Hindu Belief system. It's one of the biggest festivals that happens once in a life time. People tend to overspend but that's the joyous moment that matters. There are lots of tech spaces built around weddings. Matrimonial sites, wedding planners and many more...
"but that's the joyous moment" 🥲
I had this startup plan in college final year, full presentation would be somewhere too.
But making that I realised too many factors make or break this. Too many things to take care of, at any given point.
Like what they tried capturing in Band Baja Baraat was tip of iceberg. Just too many nitty gritties, things that could go wrong are endless
Hi @DaringTrain,
I too agree that it is absurd to spend so much of savings on a 2 day event. But there are more reasons behind inviting people to marriage just rather than feeding them.
You are showing to the people that you are extending your relationship with this Girl/Boy or Family.
Getting into a relationship is not some fun or timepass.
I also know that marriages are breaking easily nowadays, this happens more when the woman wants to be independent and earn more. (No offense to female employees reading this). But if you see the stats, women want freedom when they earn more and think they don't need men, and the divorce rate is more here.
Coming to the startups, there are techies in this area as well who take care of wedding planning, photo and videography, etc. But there is a lot of competition here as well. As you are aware avg Indians don't go for pre-wedding shoots or wedding planners as it is expensive.
Alongside, it is more challenging and involves a lot of physical work like travelling and manpower, then tech work.
