Whitepaper Edition 1: 2016
The Act of "Gifting" is at the "Crossroads of Social and Commerce", which arguably, are the two biggest Key Drivers of Consumer Consumption behaviour. In this extremely competitive and dynamic retail market, the consumer is King! Deals and Discounting are the norm and "Instant Gratification" is the cornerstone to consumer delight. Consumer Loyalty is at a Premium - everyone out there seems to be seeking bigger and better deals and hence, have become "Brand Promiscuous". Retailers and Service Businesses such as even Hotels and Airlines, are literally laying out the "red carpet" to woo consumers and thus battling the looming threats of e-Commerce and Web/ Mobile based transactions.
The advent of many new players in the retail space, the pricing strategy adopted by e-Commerce players, a younger generation of consumers who are brand conscious and ready to experiment, double income households, increasing number of working women, shrinking family sizes, availability of products to tier 2 and tier 3 cities are the different factors that are contributing to a retail revolution in India. No wonder that the Indian retail Industry has emerged as one of the most dynamic and fast-paced industry. It accounts for over 10% of the country's GDP and 8% of employment. India is the world's fifth-largest global destination in the retail space. This White-paper focuses on Gifting and Gift Cards -which are a lucrative and important revenue generation opportunity.
For key insights and to know more about the Gift Card category click on the download link below.