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The recession-proof wedding market in India is getting aggregated in degrees into the online space at a considerable rate thereby opening the floodgates of opportunities for the online matrimonial market towards growth. A tool for searching prospective customers, online matrimonial sites offer the comfort and choice of millions of prospects along with information about the same. Added features in the likes of allowing interaction along user interface that newspaper classifieds fail to provide have worked to facilitate higher adoption of such services.
The report begins with an introduction to the wedding market along with its market size and growth as well as a split between online and offline matchmaking market. It is then followed by an overview of the online matrimony market along with its market size and certain other inputs about the market. The business model section in the report talks about the strategy adopted by players so as to operate in the highly competitive market environment. Of late, some of the top players have revamped their business models by incorporating a brick-and-mortar version of their online business, wherein a chain of physical offices is established on a pan-India basis. These offices are generally set up on a franchisee model. The primary intention behind this strategy is to amplify the market reach by catering to the needs of the audiences with prejudice for online matrimony or do not have access to internet. This section is immediately followed by the revenue model portion which provides information pertaining to the typical revenue model followed by online matrimony businesses. Furthermore, to provide a deeper insight, revenue model of an online matrimony business has been compared with an average e-commerce business, thereby highlighting the difference in the operating margins and profitability achieved. The section ends with a snapshot of the benefits’ trade-off between the online and offline matrimony market and a comparison of the tariff rates between the two media.
An analysis of the drivers and challenges brings forth the major factors influencing the market. The major drivers identified include high internet usage, significant uptake of mobile internet, massive presence of portable devices, favorable demographics such as suitable age distribution & rising education levels and increased broadband penetration in India. While these factors can be termed as growth drivers there are certain factors that act as impediments to the sector including competition from offline market, language barrier, rural urban barrier and lack of physical infrastructure, low penetration of net banking, poor internet services and presence of fake profiles.
The next section speaks about the industry of technological trends which begins with the role of social media marketing that takes the sector forward towards more vi