Almost 40% Of Millennial Couples Spending Their Own Money On Wedding, Reveals Survey

After a rather lackluster 2021 marred by the deadly second Covid wave, it seems to be a wedding boom this year in India. And with the much needed upswing in the wedding industry, vendors are witnessing multiple changes in the approach of couples.

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. Also, most couples are now focusing on quality rather than quantity and also trimming their guest list.

WeddingWire India, the Indian subsidiary of The Knot Worldwide, an online marketplace for wedding makers and professionals, interviewed more than 220 vendors across India for the study, as per various media reports.

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

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Although 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%).

Also, the survey found out that 44% of couples start making reservations one to three months before the big day and almost 15% of couples are now booking their wedding venues only one month prior to the wedding. Online Payments (29.9%) followed by Cash (19.9%) were among the top preferred modes of payments, whereas 75.6% of couples opt for partial advance payment before the big day, the survey revealed.

The survey reported that around 31% vendors in the wedding industry have increased their charges due to high product and labour costs, and even the per month earnings of 42.5% of wedding vendors have gone up in 2022 as compared to pre covid year of 2019.

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Also Read: How A $500 Gift Card Helped Catch The 'Bitcoin Heist Couple'

Why The Survey Was Conducted

Anam Zubair, head of marketing at WeddingWire India, said ¡°It is true that the pandemic has drastically changed the wedding ecosystem. Hence, to understand our stakeholders, i.e. 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."

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