The gifting industry in India has been witnessing tremendous growth over the years, driven by a growing demand for personalized and unique gifts. The industry, which was once limited to traditional occasions such as weddings and festivals, has now expanded to include a wide range of events, including birthdays, anniversaries, promotions, and more.
According to industry estimates, the gifting market in India is worth around $30 billion and is expected to continue growing at a rate of 20-25% annually. This growth can be attributed to several factors, including increasing disposable income, changing lifestyles, and a growing trend towards experiential gifting.
The Indian gifting industry has evolved significantly over the years, with several new players entering the market and offering innovative products and services. One of the most significant trends in the industry is the growing popularity of online gifting platforms. These platforms offer customers a wide range of products and services, including customized gifts, same-day delivery, and even international shipping.
Gifting in India can be split into 3 broad categories – Festival Gifting, Personal Gifting and Corporate Gifting.
The evolution of the Indian customer has played a key role in bringing about this change, as this customer has both the willingness and the ability to pay for innovative products.
Here is the list of reasons, due to which the gifting market is flourishing in India:
- Gifting Potential of Indian Customers: India is a country, where celebration and occasions run throughout the year and for every occasion and celebration, there are specific things to gift for, take for example Raksha Bandhan gifts will not go with Diwali gifts.
- Endless Option:
E-commerce, online shopping sales, and offers rain throughout the year and serve people will endlessly options to gift each other. There is no such restriction as one can only gift flowers or cakes or chocolates
- 3. Personalized Gifts:
There is a huge demand of personalized gifts, as it gives the sender a feel of being directly involved in giving it a personal touch, rather than being decided by the gift companies. It also emotionally binds the customer of both ends with the company for making their occasion memorable.
According to Technopak, “The total size of the Indian gifting industry is about Rs 250,000 crore.”
Gift market has also given a platform to the artists in flaunting their work and talent, through this, which is why following the passion has become this new age slogan, hummed by the youth.
Some insights on top & emerging gifting brands
Archies: Archies Limited, based in New Delhi, is an Indian worldwide retailer of greeting cards and gifts for 42 years, having more than 250 franchises and 230 exclusive outlets named Archies Gallery around 120 cities and six countries. It holds a share of the overall industry of around half of India’s greeting cards market. In 2000, with the commencement of its online portal and its item reach to incorporate artificial jewellery, crystal ware, chocolates and scents as needed, it changed its name to Archies Limited in 2022.
Ferns and Petals: Ferns N Petals was established in 1994 and flower bouquet delivery was the first and only thing that the company was into. From just 1 flower shop in Delhi during 1994, Ferns N Petals is now the largest florist chain with more than 320 stores (and still counting) across all the major cities and towns of India.
Today, Ferns N Petals Group encompasses of FNP Retail & Franchising, FNP E-commerce- India, UAE, Singapore & Qatar, FNP Weddings & Events, Floral Touch- India & UAE, FNP Gardens, Handicrafts, The Flagship Store by FNP, WDH (Wedding Design Hub), FNP Cakes ‘N’ More and FNP Media. The brand is one stop shop for all gifting needs, be it buying flowers, cakes, plants, personalized gifts, decoration services, or experiences, not only in India but across the globe.
Winnie: Since Winni’s inception in 2013, they have been successful in redefining the horizons of e-retailing cakes, flowers, gifts & more, and making online surfing for their customers much handier. Today they have India’s one of the most trusted online portals for gifts and cakes.
IGP.COM: IGP.com (formerly known as IndianGiftsPortal.com) is India’s largest multi-category gifting company, providing one of the best curated collections of festival merchandise, gifts, fresh flowers, cakes, plants, gourmet foods & personalized products for all occasions & festivals.
The Gift Studio: Established amidst the chaos of the Pandemic, The Gift Studio is a reservoir of cherishing every moment with our family, friends and corporate connections and reaffirming the importance of relationships.
According to husband-wife and business partners Shashwat and Shivika Goenka, of the RP Sanjiv Goenka Group, the gifting sector lacked organised and credible players that offer well-curated gifts as per customers’ requirements. Headquartered in Mumbai, we deliver all over India, with same-day delivery services available in the metro cities of Mumbai, Kolkata, Pune, Bangalore, Delhi and Gurgaon.
Phool.co: It is the world’s first profitable and lean solution to the monumental ‘Temple-waste’ problem. They collect 8.4 tons of floral-waste from temples in Uttar Pradesh, India on a daily basis. Those sacred flowers are handcrafted into charcoal-free incense, organic and biodegradable packaging material through our ‘Flowercycling’ technology. Phool is a brand owned by Kanpur Flowercyling Pvt. Ltd founded in 2017, till now 11,060 metric tonnes of temple waste is recycled. The company has recently been split into the companies HelpUsGreen and Phool.
Young people of today have much more disposable income, which makes instant gifting options – even luxurious ones – more affordable on a regular basis. And of course, birthdays and weddings continue to be popular gifting occasions, paired with Zoom celebrations.
There are many such gifting sites in India like Confetti Gifts, Momentz, The Mansion and many more. The Indian e-commerce market has been growing significantly over the last decade.
