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What can every tech product learn from the wedding industry?
1. Build for status driven society.
Most part of population wants to gain status. Any product helps them do it is going to get wallet share. Weddings are less for the bride and groom and mostly for the eco chamber to showcase money power.
2. Time saving products are a niche.
Most users will spend an hour or more to get a Rs.100 discount. If you are building for saving time, build for the top 1% who do value time.
3. People love to own things.
This is corollary to the status driven society argument. Building for rental clothes, furniture and home will attract low LTV audience. Single day use expensive wedding clothes to the proof. Exceptions being Furlenco & Flyrob.
4. People save money to spend, not invest.
Quick look at investing companies marketing pitch will reveal “save for marriage”. If you use future spending power as a pitch, higher chances you will succeed.