Friendship Day Special: Personalisation and Beyond, Future of Gifting in India
India's gifting sector has seen tremendous expansion over the past decade with the rising income levels and aspirations. By 2024, India is anticipated to become one of the largest contributors to the estimated USD 475 billion worldwide gifting market. According to a research analysis, the country is expected to reach USD 84 billion by 2024. The rise of the Indian gifting sector as a whole is being disrupted by the emergence of a digital economy and the rising per capita income of millennials, which also makes online buying more convenient and profitable.
This transformation has been significantly influenced by the evolution of the Indian consumer, who has the opportunity and desire to purchase unusual gifting choices. A seamless experience is produced by elements like innovative packaging, personalised notes, initial-engraved boxes, etc., all of which highlight the extra effort made to demonstrate care, thankfulness, and gratitude. People are eschewing standard gifting options like chocolates and greeting cards in favour of original and unusual personalised gifting concepts that further elevate a gift to the status of a symbol or memento of a close relationship.
Topical occasions like Friendship Day, Mother's Day, Father's Day etc. have significantly increased demand for customised gifts in India. Customers now have access to a variety of gifting alternatives through both online and offline retail, which offers tremendous value by capturing enduring bonds and memories through personalised gift tokens. Each brand is working hard to increase their recall value among their target customers in this era of intense competition.
In addition to amazing bargains and offers to entice clients, they constantly plan and strategise to develop intriguing and engaging concepts for customers. Recently, it has been seen that businesses and designers are even showcasing their unique work aesthetics on social media sites like Facebook and Instagram.
India is among the top rising countries that are contributing to the expansion of the global gifting market, thus the future of the customised gifting market is bright and will anticipate an upward swing. The quick growth is also being greatly aided by the development of modern technology and improved and secure payment methods.
