The India Gifting Market to be Fueled by Corporate Gifting Segment During the Forecast Period
Increasing popularity of personalization, experiential
gifting, and increasing popularity of e-commerce and online shopping are the
leading factors that will drive the India Gifting market in the forecasted
years.
According to TechSci
Research report, “India Gifting Market – By Region, Competition,
Forecast & Opportunities, 2029F,” The gifting market in India is a vibrant
and growing industry, with a wide range of products and services being
exchanged as gifts for various occasions.
There are several factors that are
driving the growth of the gifting market in India. One of the main factors is
the increasing disposable income of consumers, which is leading to greater
spending on gifts for family and friends. Additionally, the growth of
e-commerce and online gifting platforms has relatively made it easier for people
to purchase and send gifts to their loved ones across the country.
The Indian gifting market is segmented
into various categories, including personal and corporate gifting. Personal
gifting includes gifts for occasions such as birthdays, weddings, anniversaries,
and festivals like Diwali and Christmas. Corporate gifting, on the other hand,
involves gifts given by companies to their employees, clients, and business
partners.
The range of gifts available in the
Indian market is diverse and includes traditional items such as sweets,
chocolates, and flowers, as well as modern gifts like gadgets, apparel, and
personalized items. Personalized gifts such as photo frames, mugs, and key
chains are also becoming increasingly popular among consumers.
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The India Gifting market is segmented
based on purpose, type, distribution channel and region. Based on purpose, the
market is segmented into corporate gifting and personal gifting. Based on type,
the market is segmented into souvenirs, personal accessories, decorative items,
greeting cards, e-gift vouchers, and others (flowers and plant gifts, etc.).
Based on distribution channel, the market is segmented into local shops,
exclusive outlets, multi branded shops, online and non-retail sales (direct,
distributor/dealers, etc.). Based on region, the market is divided into north,
south, east, and west.
The online channel has experienced
significant growth in recent years, fueled by the rise of e-commerce platforms.
Online shopping provides convenience, a vast selection of products, and the
ability to compare prices and read customer reviews. This channel has gained
popularity among tech-savvy consumers who prefer the ease of shopping from the
comfort of their homes.
Key market players in the India Gifting
market include:
- Archies Limited,
- Ferns N Petals Pvt
Ltd.
- Miniso Life Style
Private Limited
- Sparket Marketing Pvt
Ltd
- Bansal Importer
Pvt. Ltd.
- FA Gifts Private
Limited
- Hallmark India Pvt.
Ltd.
- Chumbak Design Pvt.
Ltd.
- Join Ventures
Private Limited (IGP)
- GiftstoIndia24x7.com
In
2022, Chumbak, a company specializing in home décor, had introduced a
designer holiday collection for dining and home décor along with curated gift
sets. The Kasuti art of Karnataka served as the inspiration for Chumbak's
holiday collection, which also incorporates season's colors and a contemporary
Indian touch.
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“The India Gifting market is primarily
driven by the increasing variety of products and changing consumer behavior
towards personalized gifting. As Indians become more affluent, they are willing
to spend more on gifts for their family and friends. Additionally, the rise of
e-commerce and online gifting platforms has made it easier for people to
purchase and send gifts to their loved ones across the country. The growth of
the middle class, the increasing number of occasions that call for gifting, and
the emergence of personalized and unique gifting options have also contributed
to the growth of the Indian gifting market. Finally, the rapid adoption of
technology and social media has created new opportunities for businesses to
connect with customers and personalize the gifting experience, further fueling
the growth of the Indian gifting market.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India Gifting Market, By
Purpose (Corporate Gifting and Personal Gifting), By Type (Souvenirs, Personal
Accessories, Decorative Items, Greeting Cards, E-Gift Vouchers, Others (Flowers
and Plant Gifts, etc.)), By Distribution Channel (Local Shops, Exclusive
Outlets, Multi Branded Shops, Online and Non-Retail Sales (Direct,
Distributor/Dealers, etc.)), By Region, Competition, Forecast & Opportunities,
2019-2029F”,
has evaluated
the future growth potential of Gifting market in India and provides statistics and information on
market structure, size, share and future growth. The report is intended to
provide cutting-edge market intelligence and help decision makers take sound
investment decision. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
present in India Gifting market.
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