India's wedding season, which runs from October to December, is expected to boost demand in various consumer-facing sectors.
Analysts predict that around 48 lakh weddings will take place during this period, leading to growth in industries such as jewellery, retail, hospitality, and automobiles.
The second quarter saw a decline in sales in categories like quick-service restaurants, footwear, and apparel, but there are signs of recovery in the value segment.
The reduction in customs duty on gold is expected to drive demand for jewellery. Brands in the jewellery sector, such as Malabar Gold and Diamonds and Titan, are optimistic about a strong bridal jewellery season.
The wedding season is estimated to generate approximately Rs 6 lakh crore in business, with an increase in wedding dates being a key factor. Manyavar, a popular wedding attire brand, is prepared for strong demand. Metrobrands, a footwear company, also expects continued momentum in sales.
The wedding season is crucial for many industries and could provide a boost to the economy. Businesses are aligning their strategies to capitalize on this seasonal demand. The focus will be on sustaining growth beyond the wedding season, particularly in sectors like jewellery, apparel, and luxury goods.
The combination of increased wedding dates, favorable policy changes, and a recovering value segment positions businesses to benefit from heightened consumer activity.