Young Indians Want Self-Funded, Smaller Weddings
NEW DELHI, (IANS) – According to data from a recent national poll on wedding spending, 53 percent of Millennials prefer a small wedding with fewer than 100 people, followed by 31 percent who want a medium-sized wedding with between 100 and 250 attendees, and only 16 percent who choose a large wedding with more than 250 guests. Although theme and destination weddings are popular, the poll found that over 76 percent of respondents from Tier 1 and Tier 2 cities preferred a traditional wedding.
India Lends, and Better Half, conducted the poll in 24 Tier 1 and Tier 2 cities throughout India. The post-pandemic wedding study included around 2100 participants in the 21-35 age range, 93 percent of whom were salaried employees and 5 percent were self-employed.
In the years following the pandemic, young couples now prefer small, private weddings to big, fat Indian weddings. Couples can concentrate on creating a one-of-a-kind premium experience by splurging on personalization, fancy locations, and several ceremonies when the guest list is reduced to family and close friends. The youth are shouldering most, but not all, of the financial burden on families, relying on their savings and arranging additional funding from reputable lending sources. The pre-and post-wedding ceremonies, as well as the venue and food, photoshoot and filming, and even the honeymoon, can be paid for thanks to this.
India Lends Founder and CEO Gaurav Chopra said, “Tradition and culture have always been an intrinsic part of India and Indian families, as evident from our wedding-spend survey, which shows how the youth of today still want to celebrate their big day with family and close friends in traditional style with pomp and splendor yet keeping it intimate. At the same time, it is heartening to see that most of the respondents in the 21-35 age bracket are focusing on financial stability before they decide to tie the knot and settle down.
In the above context, 68 percent of the youth reported that financial stability was a top priority when it came to marriage and achieving other personal goals. The survey also revealed that self-funded weddings were becoming the next big trend, with over 70 percent of Millennials and Gen Z saying they would plan and finance their own wedding.