Whitepaper Edition 2: 2017
Changing demographics, a politico-economic scenario which seems to be in a permanent state of flux, de-monetization, increasing digitization, rapidly rising incomes, the emergence of a whole new consuming class, a younger generation of experimentative, brand conscious consumers, double income households, increasing number of working women, shrinking family sizes, the rise of tier 2 and tier 3 cities are some of the different factors that are contributing to India’s status as the world's fifth-largest global destination in the retail space.
The consumer is King! “Instant Gratification" is the cornerstone to consumer delight. Consumer Loyalty is at a Premium and "Brand Promiscuity" is on the rise. Businesses continue laying out the "red carpet" to generate new footfalls and retain existing consumers. The gifting category in India is also undergoing massive transformation. Now there are many more gifting occasions in India than ever earlier. Gifting is not only limited to birthdays, weddings, anniversaries but there are many more important occasions to cheer and celebrate, Today, the gifting market in India is estimated at $40 billion. It is broadly split into four broad categories - Festival Gifting, Occasion-based Gifting, Personal Gifting and Corporate Gifting.
In this age of the digitally distracted and deal distracted consumer, it is one of the ONLY categories, which has the potential to drive a “Full-Price Sale” at Retail!
Learn more about Gift Cards in detail in this second edition of the Qwikcilver White-paper which focuses on Trends in the World of Gifting and Gift Cards!