Increase in disposable income, rising influence of western culture, extensive exposure of digital media, and easy accessibility of international brands to drive India gifting market
According to a recently released TechSci Research report, “India Gifting Market By Purpose (Corporate Gifting & Personal Gifting), By Distribution Channel (Offline and Online), By Region, Competition, Forecast & Opportunities, 2025”, gifting market in India is projected to surpass $ 159 million by 2025 on account of rising disposable income levels and increasing influence of western culture across the country. Due to increase in internet and smartphone penetration, online sales channel of the country’s gifting market is growing. Consequently, the share of offline segment is expected to decline due to surging online sales as more and more people are going digital and leading market players like Archies, Mini So, Ferns & Petals, etc., are also strengthening their online interfaces to offer a smooth shopping experience to consumers at the comfort of their home or on-the-go. Tier 1 cities remain the dominant markets for online sales. Nevertheless, the offline channel would continue its market dominance during the forecast period.
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Major players operating in India gifting market include Archies, Ferns & Petals, Mini So, Beccos, Uniqlo, among others. In 2019, Archies held the largest share in the country’s gifting market, and the company is expected to continue its dominance through 2025. Leading players are focusing on expanding their product portfolios to maintain sustainable growth in the country’s gifting market. The companies are also expanding their distribution reach by opening more outlets as well as selling their products through online channel.
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“India gifting market is expected to grow at a steady pace in the coming years due to increase in disposable income and growing affluence, especially among millennials. An increasing number of people are now moving from traditional gifting options like edibles and greeting cards to unique and unconventional customized gifting ideas. Consumers in India want to be surprised by innovative products and ideas, creative packaging, personalized notes, initial engraved boxes, etc., as more and more people have both the willingness and ability to pay for unconventional gifts. Young adults are the primary buyers in India gifting market, and they consequently form the target consumer segment for the major gifting players operating in India.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Gifting Market By Purpose (Corporate Gifting & Personal Gifting), By Distribution Channel (Offline and Online), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of India gifting market and provides statistics and information on market structure, consumer behavior and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in India gifting Market.
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