We often think of Indian weddings as the most traditional of social events, steeped in age-old rituals and elaborate ceremonies. However, a closer look reveals that they serve as a powerful lens to understand broader socio-economic shifts shaping the country. With the youngest of the Millennials and the oldest Gen Zs now of marriageable age, the wedding industry reflects evolving consumer preferences that go beyond mere expenditure, touching aspects such as financial independence, personalisation, sustainability and the influence of digital trends. The ‘Great Indian Wedding’ is no longer just a cultural milestone but a complex interplay of tradition and aspiration, offering valuable insights into shifting behaviours across allied sectors, including hospitality, tourism, retail and technology. Key Trends and Consumer Insights Go Big or Stay Home: The Surge of Luxury and Aspirations Indian weddings are becoming grander, driven by rising aspirations, hospitality-cost inflation and the influence of social media. In 2024, the average spend on a wedding surged 14% year-on-year (28% over 2 years), reaching Rs 3.2–3.5 million, up from Rs 2.8 million in 2023, according to a major wedding technology platform. This reflects a growing shift towards experience-led celebrations with meticulous attention to detail. Weddings are also growing larger, and the number of events with over 300 guests grew by 16.3% in 2024, signalling a desire for scale and opulence. Couples are also moving beyond traditional setups, prioritising personalised immersive experiences and destination choices over conventional celebrations. This evolving landscape fuels demand across multiple sectors. According to a Confederation of All India Traders (CAIT) report, jewellery and attire remains the largest expenditure category, accounting for 25% of total wedding costs (Chart 1). Food and beverages follow at 20%, with catering alone contributing 10%, highlighting the growing emphasis on elaborate dining experiences. Décor and venue-related services command 19%, reinforcing the trend towards highly curated, experience-driven weddings. For businesses, these trend signal strong opportunities in premium personalisation, hospitality innovation and tech-enabled wedding solutions. Brands that cater to evolving consumer expectations – whether through customisation, luxury experiences or digital-first planning tools – stand to benefit from India’s ever-expanding wedding economy. 
The Allure of Destination Weddings Destination weddings are gaining momentum, with their share growing from 18% of the total in 2022 to 26% in 2024. This shift is driven by growing disposable incomes, a desire for memorable once-in-a-lifetime events over materialistic displays, and an escape from the conventional. While domestic destinations like Goa, Rajasthan (Udaipur, Jaipur) and Kerala continue to top the list, newer spots such as Daman, Mussoorie, and Corbett National Park are the next big things for couples seeking something unique. International destinations in Europe, Turkey, Thailand and Mauritius continue to dominate, drawing couples looking for a blend of luxury and exotic charm. A recent survey finds, for instance, that 85% of respondents are either planning or have attended a destination wedding. Additionally, a 2024 WedMeGood report reveals, over 60% of events with budgets exceeding Rs 10 million are now destination weddings, underscoring the growing demand for premium wedding experiences. Millennial Weddings: Redefining Financial Independence Indian millennials are increasingly self-funding their weddings, marking a significant shift away from traditional family contributions. A 2023 IndiaLends survey found that 42% of millennials plan to finance their weddings themselves. Significantly, women lead this trend – a higher proportion (60%) of women than men are inclined to self-fund their ‘special day’. This is particularly significant in the Indian context, where wedding costs have traditionally been borne by the bride’s family. The growing financial independence of women reflects broader societal changes, with younger generations prioritising autonomy and shared financial responsibility in major life events, while seeking flexible, personalised solutions. The Future of The Big-Day Financing: An Opportunity for Businesses Rising costs and the growing need for financial autonomy are driving more couples to borrow, with 26% of self-funded millennials considering personal loans, with 68% of loans falling in the Rs 100,000 to Rs 500,000 range. While traditional financial institutions offer tailored wedding loans, fintech players and lending platforms like SanKash have introduced Marry Now, Pay Later (MNPL) schemes in partnership with hotels. These platforms evaluate a customer's credit profile and employment background, pay the hotel on the customer's behalf, and set up EMIs with their NBFC partners. The strong demand for MNPL – evidenced by Rs 80 million worth of queries within a week of SanKash’s launch – signals a shift toward flexible financing. A growing reliance on credit for milestone events reflects a broader trend of aspirational spending. Businesses in financial services and hospitality can capitalise on this by offering innovative financing solutions that align with evolving consumer expectations. A Growing Digital Influence Social media plays a crucial role in modern wedding planning, with many to-be-weds finding inspiration on platforms like Instagram and Pinterest, wedding websites and blogspots, according to a major wedding consultancy. Moreover, 30% of Indian couples now meet online, with 11% specifically connecting through social media. Beyond inspiration, digital tools such as virtual invitations, livestreaming and AI-driven planning apps are streamlining the wedding experience, making the process more efficient and accessible. The growing digitalisation of weddings highlights opportunities for businesses to enhance their online presence, leverage influencer marketing, and develop tech-driven solutions to cater to modern, tech-savvy couples. Sustainable Celebrations There is a broader shift in consumer values towards responsible consumption and environmental consciousness. Sustainability is becoming a major priority for couples, with 52% of weddings in 2024 adopting eco-friendly measures, according to a major wedding consultancy. Growing environmental awareness is reflected in choices such as renting attire, opting for e-Invites and reducing plastic usage. Couples are also embracing practices like using artificial flowers, choosing cars over horses, donating excess food, and offering eco-friendly favours. At the same time, weddings with fewer than 100 guests saw a 27% increase in 2024, suggesting a K-shaped market in the making, with many opting for more intimate and exclusive ceremonies for some. This trend suggests a dual movement: lavish weddings coexisting with a rising demand for sustainability and minimalism. For businesses, aligning with these evolving preferences—by offering eco-friendly services, sustainable packaging and low-waste options—is essential to remain competitive in an increasingly conscious market. Evolving Jewellery Preferences and the Shift in Priorities Gold retains a central place in Indian weddings, accounting for 55% of the jewellery market. However, rising gold prices have led many brides to opt for lighter, lower-carat jewellery, with 18-carat gold's market share rising from 5-7% to over 15% in two years. Many are also exploring alternatives such as artificial jewellery or lab-grown diamonds, which are increasingly seen as affordable and ethical choices. Consequently, in 2024, 45% of brides chose lab-grown diamonds for their engagement rings over traditionally mined diamonds, which are often more expensive and associated with ethical concerns. Brides' changing jewellery preferences reflect a shift towards cost-effective luxury without compromising on aesthetics or sustainability. This trend highlights a broader move towards financial independence and a preference for experiences over traditional asset accumulation, reflecting the modern woman's evolving priorities and growing decision-making power. The Duality of Modern Indian Weddings On the one hand, Millennial and Gen Z consumers are increasingly prioritising practicality, minimalism, self-funding their weddings, and sustainable choices such as opting for lab-grown diamonds and digital invitation. On the other, the aspirational appeal of grand, larger-than-life weddings continues to thrive, with social media and rising disposable incomes driving demand for luxury experiences at opulent venues. This duality highlights the evolving mindset of the Indian consumer, balancing tradition with modernity, indulgence with responsibility and affordability with aspiration, offering businesses a diverse spectrum of opportunities to cater to both ends of the spending spectrum. |