Personal Gifting Segment to Lead India Gifting Market through 2025
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.
About TechSci
Research
TechSci
Research is a leading global market research firm publishing premium market
research reports. Serving 700 global clients with more than 600 premium market
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