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The study provides an overview on the Indian online dating and matrimony market. It analyses various competitors in the online dating market in India and also discusses gaps and drivers in this ...

The study provides an overview on the Indian online dating and matrimony market. It analyses various competitors in the online dating market in India and also discusses gaps and drivers in this market.

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Online Dating and Matrimony - Industry Profile Presentation Transcript

  • 1. Online Dating & Matrimony Industry Profile 29 July, 2013 Troika Consulting
  • 2. Presentation Plan  Online Dating & Matrimony Industry Profile  Online Dating Market  Online Matrimony Market  Key Players – Online Dating (1/2)  Key Players – Online Dating (2/2)  Key Players – Analysis by Focus  Key Players – Benchmarking  Target Group  Gaps  Main Drivers
  • 3. Online Dating Market The current size of the online dating market in India is around USD 130 million. By 2015, it is estimated to rise to USD 206 million, representing a CAGR of 16 percent. Online dating market size, % Population, billion 3.25% 16.67% 83.33% 96.75% India • Rest of the world India Rest of the world India represents around 17 percent of the global population, however, India‟s market size accounts for only 3.25 percent of the global market. This difference represents a huge opportunity for upcoming and current players in India. The US with a market size of USD 2000 million accounts for the largest pie of the market. Even though US is mature market, it is growing at a rate of 12 15 percent. Thus, India being a developing market, industry sources predict a growth of 15 20 percent in the coming years. According to industry sources, India and UK have witnessed a steep rise in the popularity of online dating. • In India, presently only 6 million people are using online dating services, according to StepOut.com. By 2015, the number is estimated to rise to 115 million, a CAGR of 167 percent. Source: Dating websites upbeat on India, Online Dating Statistics & Facts
  • 4. Online Matrimony Market The online matrimony market is valued at INR 510 crore and is growing at around 30% annually, according to the Internet and Mobile Association of India (IAMAI). Market statistics Online dating v/s Online matrimony • The overall online matrimony market has around 35 40 million registered profiles. 40 20% of profiles are registered on behalf of singles by their parents, relatives and friends 6 • 93 percent of the revenues of a matrimonial site come from subscribers, while the remainder comes from the advertisements. Registered users (millions) Online dating Online matrimony • The average time between profile upload and marriage is 3 months. • The margins in this industry are very high ranging from 50 70 percent. Source: Indian Online Matrimony Market, How has Internet dating changed society?, Matrimony portals making serious efforts to counter rising tide of divorces, ensure lasting unions
  • 5. Key Players – Online Dating (1/2) Are they advocating marriage? NO.. They mostly position themselves as a platform to connect with single people and leave the discretion on level of involvement in the hands of the user. StepOut.com “Find partners for fun, dating and long term relationships” • • • Aims to unite Indian singles worldwide. Mostly focuses on Indians living in North America and UK Differentiates itself by claiming to offer more safety and security. And does not use the word „dating‟ on website • An affiliate of Cupid plc, a global online dating company offering multiple network websites • “Our research confirmed that there are many people who would like to meet people without having marriage on their minds all the time,” says Founder Sachs. Average age of community is 24 and has greater proportion of females to males “„click, connect, meet‟ before marriage. Emphasises on the „getting to know‟ stage of a relationship & not simply on marriage” • An initiative launched way back in 2003 by Anupam Mittal of shaadi.com • Employs algorithms programmed to study users' behaviour and recommend profiles to users • Fropper Forums enable users to find people with similar interests/passion • Allows the user to connect, meet and network with Indian singles all over the globe • Offers virtual gifts in the form of laddoos, flowers and mango juices. Also offers relationship advice Source: Niche social network StepOut, the #1 meeting place in India , StepOut, Step in with stepout, Calcutta Times, New breed of startups uses cutting-edge technologies for match-making, Online Dating Services TwoMangoes Raises Angel Funding, People Interactive (I) Pvt Ltd, Fropper Indian Dating Reviews, Indiandating Twomangoes.com “Fropper is ALL about meeting people, making new friends & having fun with photos, videos, games & blogs!” Fropper.com Indiandating.com “India's number 1 place to meet new people have fun experiences and form real life relationships.”
  • 6. “Based on the concept of "Relationship Networking“, make exciting new relationships - be it a friend, a partner or a soul mate, online! “An "invitation only network" and not a dating or matrimonial site” • Restricted membership mostly through reference of existing members • A unique way of finding a soul mate Portrays as a platform to find a perfect partner or soulmate, designed exclusively for one-on-one conversation • Verifies every member by official email ID or college documents, discouraging fake profiles • Each user pays for every person they initiate contact with, not based on a monthly subscription • About 259 registrants from Yale, Stanford, MIT, Cornell, Columbia, Cambridge, LSE, II Ts, IIMs and other top universities “„A person can perform a marriage search on behalf of a relative, not just for oneself. Plus, members can narrow their searches by specific language, religion, diet, caste, and other traits” • Subsidiary of FriendFinder Networks Inc., an international Internet-based social networking and technology company • Allows browsing of profiles across multiple countries • The profiles do not seem very authentic and may be fake Source: MyMitra, A Premium Match Making Service For Graduates World Wide, New breed of startups uses cutting-edge technologies for match-making, Mymitra, Lonesome in Delhi? Floh floats hope, In India, More Women Are Playing Matchmaker For Themselves, Quackquack Indianfriendfinder.com “A serious matchmaking and dating site for professionals and graduates” MyMitra Differentiator - plans events around activities that ease up the pressure of meeting prospective romantic interests • • Floh.in Quackquack.in Key Players – Online Dating (2/2)
  • 7. Friends/casual dating only Key Indian Players – Analysis by focus Indiandating.com Indianfriendfinder.com StepOut.com Positioning and focus Fropper.com Floh.in Mymitra.com Main competitors Twomangoes.com Matrimony only Quackquack.com Shaadi.com Bharatmatrimony.com Least Jeevansathi.com Most Security and authenticity of profiles Least
  • 8. Key Players – Benchmarking Player Extensive questionnaire Authenticity check eHarmony.com Zoosk.com Match.com Cupid.com StepOut.com Fropper.com Twomangoes.com Quackquack.in Mymitra.com The parameters have been rated on the following basis: Least Highest Matching algorithms Penetration in India
  • 9. Target Group Young population residing in metropolitan cities is the main target group for the online dating market. The matrimony websites, however, register traffic from non—metropolitan areas also. • The main target are young single Indians looking to: Profile of online users in India, 2012 Serious matchmaking, however through a more informal platform without the involvement of parents • Top cities where users come from Mumbai, Delhi, Kolkata, Chennai, Hyderabad and Bangalore • Tier 2 cities are also gradually contributing to the growth of online dating Percentage Online Dating Date casually, or 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% 15.3% Female 6.5% Online Matrimony 1.3% 1.8% The main target for these websites are: Young people of marriageable age 2.4% 3.6% 45 - 54 35 - 44 23.7% 21.9% 25 - 34 15 - 24 Age • Globally, India has one of the youngest online demographics. Parents and relatives of young people 75% of the online users age between 15 34 • Male 9.7% 55+ • 13.7% Their users are not restricted to metropolitan cities Source: State of e-Commerce in India, ASSOCHAM
  • 10. Gaps What’s already there and growing? What else is sustainable? Online interaction + Offline events Virtual gifts Complex algorithms for relevant suggestions and matches Strict verification process Current Casual dating Matrimony focus Serious matchmaking through initial dating Unique business models Target on young professionals Strong VC backing Mobile apps Filling up extensive profile forms A unique business model that is:  Well differentiated  Technologically advanced  Guarantees authenticity  Clear on target group  Strategically planned  Online + Offline + Mobile Future
  • 11. Main Drivers Young population looking outside arranged marriages Availability of an accessible and convenient way to locate people with similar interests Changing cultural dynamics across both tier 1 and 2 cities Growing internet penetration Focus by companies on filtering fake profiles to build trust in online dating Successful rates of current websites at matchmaking and finding dates
  • 12. Contact: talk@troikaconsulting.in