How Matrimony.com Is Disrupting India's Online Matrimony Market
Matrimony.com, whose flagship brand is BharatMatrimony.com, one of the leading players in India’s online matrimony space, recently launched ‘MatrimonyMandaps’, an online platform for members seeking a marriage hall can view, select and book a marriage hall. The service has been currently launched in Tamil Nadu, but the company has plans of expansion to other parts of the country.
This aims to be the the best wedding venue discovery platform to find best ‘Mandaps’ and ‘Banquet halls’ in Tamil Nadu. With this service, the company has tied up with close to 900 venues across the cities Chennai, Madurai, Coimbatore and Trichy. Speaking to ‘CXOToday’, Murugavel Janakiraman, Founder and CEO, Matrimony.com, said, “ This is an organized, validated and comprehensive information on 60 features of mandaps with 360 degree videos and best deals, backed by Matrimony.com.” This is part of Matrimony.com’s foray into the over $60 billion wedding services market.
“Today, anyone’s who’s looking to book a mandap faces the challenge of sifting through the web to discover one that matches, there’s no validation of the information one gets and they don’t get good deals. MatrimonyMandaps manages all of this giving the user organized and validated information with pictures and cool deals they can’t get from anywhere else,” he said.
According to the company, it also helps users get the best price and service by leveraging the relationship built with the vendors. The service includes a relationship manager who will reach out to customers to understand their needs and recommend suitable wedding venues. Matrimony.com has detailed information of more than 500 wedding venues which include marriage and banquet halls across Tamil Nadu. Detailed information of facilities on the wedding venue as well as high quality photographs are given online to help customers choose the perfect venue for the wedding.
Speaking on the response of the launch, Janakiraman said, the company is seeing some early success and the user interest is very high. “Currently this service is available only in Tamil Nadu and we have lakhs of TamilMatrimony members who’d be keen to try it. We’ll be expanding to other places. While we continue to expand the 360 degree videos that give you a glimpse of the mandap without going there, other interesting features will be rolled out.”
It is estimated that in 2016, of the 107 million individuals in India who were unmarried, there were approximately 63 million individuals in India who were actively seeking prospective life partners. Based on the KPMG Report, the population within the marriageable age bracket in India will grow at an average rate of 0.84% until 2021 and that approximately 60.5 million weddings will take place in India from 2017 to 2021 (both years included).
According to the industry report dated May 4, 2017 entitled ―Market Study of Online Matrimony & Marriage Services in India, prepared by KPMG, the marriage services industry in India is estimated to be worth approximately ` 3,681 billion in fiscal 2016, with catering, decoration, venue, gifts and photography accounting for approximately 61.00% of marriage services spends in fiscal 2016.
With the high level of growth and momentum, the sector is also witnessing intense competition, with each matrimony site looking to offer something unique to the customers. This is Matrimony.com’s foray into the wedding services market. Today, anyone’s who’s looking to book a mandap faces the challenge of sifting through the web to discover one that matches, there’s no validation of the information one gets and they don’t get good deals. The company believes that MatrimonyMandaps manages all of this giving the user organized and validated information with pictures and l good deals.
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