Top Trends to watch out for in the Gifting industry in India
India has always been a land of many diverse cultures. This has always meant that there are so many different festivals and occasions to celebrate. At most of these festivals people exchange gifts. In fact the tradition of giving out gifts is connected to every important event in a person’s life. So you give out gifts at your wedding, at the birth of a baby, when your child graduates or when you get promoted. Our social mores dictate that you share your joy on ay achievement whether it is big or small in some form of a gift.
No wonder then that the Gifting industry in India is growing by leaps and bounds. In this article we chart out a few recent developments in the gifting industry which are going to effectively shape this industry in the years to come.
1. Personalized Gifts
Personalized are now more in demand when compared to conventional gifts. This comes into play in the retail gift segment as well as the corporate gift segment. For events like rakshabandhan or even personal occasions like birthdays or anniversaries you can now choose from a wide range or personalized gift options. You can gift customized mugs or cushions, personalized pens, personalized wine glasses and a wide range of personalized chocolate gifts.
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2. Online Gifts
Another important development is the rise of online gift portals. There are two factors responsible for this. The first is that e-commerce is now something which people in India trust. They now realise the convenience of shopping anytime anywhere compared to the brick and mortar model. The second factor has to be the advent of the smart phone. It has now connected a huge number of people in India to the internet. More and more online purchases are now happening through mobile apps and experts predict that this number will only increase in the future.
3. Preferences : Traditional vs Modern
Traditionally in India for most occasions gifts were either clothes or a box of sweets. These days the sheer range of gift options available is a astounding. Although for ceremonies which are deeply rooted in our culture like for example weddings some gifts will always be traditional. But more and more people are on the lookout for something new and unique. Chocolates are something which are now becoming more popular. People now gift holidays and vacations. Gift cards and coupons to big stores are also a popular gifting option. There is a greater emphasis on choosing gifts that the person would actually use and enjoy.
4. New Occasions for celebrations
There are now more reasons for gifting than ever. With the rise in the standard of living and incomes, a whole range of occasions have become very popular for gifting. Valentine’s day was not traditionally celebrated in India. But in the last decade or so it has become a very important day for the gifting industry. People also like to celebrate other occasions like mother’s day and father’s day with gifts for their parents. Similarly Christmas is also something which every family celebrates, at least as far as buying gifts for the children is concerned!
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