Physical and digital gift cards are emerging as a major source of footfalls and sales for retailers across categories. The number of digital or e-gift card transactions has risen three-fold in the last three years, while physical gift card transactions have grown by 41 per cent between 2014-15 and 2016-17. According to a study by Qwikcilver , an end-to-end service provider in the pre-paid gift card space, issuances of both physical and digital gift cards have risen by 150 per cent in 2016-17 to over 50 million, up from over 20 million in 2015-16.
Choosing a gift for someone can be a complicated task, as a lot of thought is put into ensuring that you ultimately give them something that they appreciate.
This has led to many buyers opting to purchase a gift card as it minimises the hassle of searching for the perfect gift, and also leaves the choice of gift up to the receiver. The popularity of gift cards has only grown in recent years across the world, and provided players in the industry with a very valuable ecosystem.
The custom of gifting is infused in Indian culture and value system. Gifts have always played an important role in traditional occasions like religious festivals, anniversaries and weddings. They have assumed a significant role in modern age celebrations, involving millennials, like Valentine’s Day, Mother’s Day, Father’s Day and a host of other such occasions.
Inbound investor interest, big pocket deals and increasing revenue have attracted a lot of traction and growth in the number of players operating in the software-as-a-service (SaaS) industry. While the success of larger players, including the likes of Salesforce and Microsoft led to startups such as Freshdesk, foraying into the horizontal SaaS landscape, industry growth is also being witnessed in the vertical SaaS domain.
You received a gift card worth Rs 5,000 for Diwali last year, but could spend only Rs 4,500 because the brand was not to your liking. The card is no longer valid. While you did not lose money, inability to use the gift amount can rankle. Now, you can trade or sell gift cards that you have no use for, provided they are still valid. “On an average, there is a breakage (the unused amount) of three-four per cent on prepaid cards like gift cards because these cannot be reloaded. This happens because sometimes the article you want to buy may fall short of the card limit.
The gift card segment in India is likely to get a huge boost this festive season with projected growth of 400% over the last year, according to the Qwikcilver Gift Card Survey. The survey was carried out across 400 towns across 10,000 points of sale and also factored in the buying behaviour of 4,00,000 shoppers on Woohoo, the company’s ecommerce platform. Qwikcilver cofounder Pratap said gift cards were becoming the preferred gifting option, with the company averaging almost 3-4million cards a month.
Are you one of those saddled with too many gift cards and looking at ways to get rid of them. Don’t let them go to waste: there is now a place where you can trade them for cash. Qwikcilver Solutions , a leading gift card technology provider, has come up with a platform that enables consumers to turn their partially used or unused gift cards into cash by listing them on the Woohoo gifting app.
The video highlights Kumar and Pratap’s entrepreneurial journey – the idea behind starting Qwikcilver to the inception and growth of Woohoo.in (Qwikcilver’s e-commerce platform that houses and offers gift cards from the country’s leading brands) and the Woohoo gifting app. Besides sharing the details of their journey and acknowledging the role of the tremendous support they received from their family and friends in helping them build Qwikcilver to what it is today, Kumar and Pratap also share details of the complex yet sophisticated and seamless technology that they use to power and support the extensive and varied gift card programmes of partner companies (big players spanning across both the offline and online world). The duo also provide some insights into the the adoption of the gift cards in tier 2 and tier 3 cities, the revenue models for B2B and B2C businesses and the plans of expansion in the coming years.
True Wanderer event allows people to champion their sense of freedom whilst discovering their spirit of adventure and exploration. Riders and voters to avail of Woohoo gift cards with access to 150 brands across 20 categories. Woohoo, powered by Qwikcilver solutions, homegrown gift card company has been announced as the official gifting partner for Wrangler’s True Wanderer 5.0, an annual event for riders across the country organized by the American outdoor denim brand. True Wanderer event allows people to champion their sense of freedom whilst discovering their spirit of adventure and exploration.
Woohoo, the go-to platform for gifting by Qwikcilver solutions, recently engaged with consumers to ask them: ‘What would really make them happy?’ in the context of gifting. This was done through a recently launched video. The campaign talks about how ‘We think we know everything about our loved ones. But do we really?’ A selection of different people that included siblings, mother-daughter and married couples were put through a small test. As part of the test, they were asked a simple question on what they would gift their loved ones to make them truly happy. An interesting observation that was noted at the end of the video was that the majority of people did not know what their loved ones actually wanted as a gift.