Weddings are a prime business in India. According to a report by KPMG in 2017, the Indian wedding industry is estimated to be around $70 billion in size.
The industry is very disordered with small and medium scale establishments, and then some big brands who are trying to enter the industry. According to Technopak, the total Indian ethnic wear market is valued at Rs 70,000 crore; women's ethnic wear has an 85 per cent (Rs 59,500 crore) share in the market and is expected to grow at a CAGR of 10 per cent till 2022. Wedding costs in India are estimated to range from USD 6,750 to USD 675,000 as per research. An Indian probably spends one-fifth of his lifetime wealth on a wedding.
Approximately 25 million Indians stay overseas and earn an average income of about USD 40,000 to USD 50,000 annually. With Indian weddings becoming mainstream in the United States and more first-generation Indians getting married, the choice of wedding dresses in the United States is still limited. From designers to regular boutiques, many shops in India take more than 20 days to customize dresses and may not be able to ship the item on time. Fit is also another major concern customers face with custom made dresses.
Some of them rely on Facebook groups to post referral requests for visits to Mumbai, Delhi, Ahmedabad and more to plan to buy family outfits for occasions, weddings and bridal showers. Weddings, festivals, and family occasions drive the ethnic wear demand from the Indian diaspora, and the demand is met by online players like Manyavar-Mohey and Known for offering distinctive occasions to wear ethnic clothing at economical prices, these brands have been catering to the confident, alluring and fashionable millennials who proudly flaunt their `desi avatar at weddings, events and different unique occasions.
Cbazaar has been majorly dominating the Indian occasion ethnic wear industry with its footprint in the United States, UK, Mauritius, Australia, Middle-East and South-East Asian nations. Selling ethnic wear requires a different set of skills than western wear. The size and fit of the diaspora are a bit off-standard (compared to regular Indian sizes), hence customization plays a key role in Ethnic wear buying. With their unique tech-enabled process Cbazaar has been successful in achieving the perfect fit and boosting customer satisfaction to the maximum. Cbazaar curates ethnic wear for NRI/South Asian women/kids across the globe.
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( With inputs from ANI )
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