As pioneers in the Gift Card industry, we understand that gift cards aren’t just a “trend” but a new gifting culture that is here to stay. There are so many advantages of using a gift card, for consumers as well as businesses that we believe everyone should get an opportunity to reap its benefits. And what better time to encourage first-time users to buy a gift card other than the festive season?
In August 2019, on the occasion of Rakshabandhan, a popular festival in India, leading brands from all over the country came together to participate in the first-ever “Gifting Carnival” powered by Qwikcilver.
Some of the brands that participated in the Gifting Carnival include Amazon, Myntra, Cleartrip, Levi’s, Fastrack, VLCC, just to name a few. With the participation of these much-loved brands, the “Gifting Carnival” played a pivotal role in empowering customers to give the gift of choice to their loved ones. There were exclusive deals on gift cards from over 20 categories including apparel, food, and lifestyle. The carnival had a reach in over 2000 cities across India with its on-ground as well as online presence.
The consumer, of course, benefitted from the myriad of options available, the exciting offers that came with them and also a chance to experience the joy of gifting through a Gift Card! The brands not only gained increased visibility and awareness but even presented Gift Cards as an option for festive gifting. The Gifting Carnival was able to break the common perception that gift cards are available for apparel brands only. It opened up a whole new world of Gifting options with gift cards of travel portals and food outlets becoming a popular choice, ensuring that the receiver gets something that they are truly interested in.
The Gifting Carnival proved to be an excellent opportunity for brands that resulted in great exposure of the brands to the consumers through gift cards. The gifting industry in India has always been on a rise, as gifting is a part of our culture. Today however, people are not just celebrating Indian festivals, but western traditions such as Mother’s Day, Valentines’ Day, etc. are gaining popularity. And with the celebration of these “newer” special occasions in India, comes more chances to exchange gifts.
This change in consumer behaviour presents itself as an opportunity for brands who have Gift Cards as the consumer is not only on a constant lookout for gifts but also is willing to try out new gifting ideas. By choosing to give a gift card, the consumer is assured that the recipient is given the freedom to choose a gift of their own liking. It becomes a very big advantage for the brand whose gift card is being presented, as it is a chance for them to introduce themselves to a new customer who, otherwise, may or may not have interacted with the brand. For offline brands, having a gift card exposes them to newer customers which leads to greater number of walk-ins to the store. More often than not, a gift card leads to a sales uplift of atleast 1.5x and going all the way to 3x the value of the original gift card. Even though the gift card carries a certain value, customers usually end up buying something that costs more, and then use the gift card as “free money” to bring down the price of the chosen product.
With more and more brands viewing Gift Cards as a strategic marketing tool for their business, the “Gifting Carnival” will be back soon at an even bigger scale, empowering customers with choices they never had before!