India has proven to be the fastest growing market for the e-commerce sector. The Indian e-commerce market is expected to grow to $200 billion by 2026. Propelled by online digital transformation, increasing internet and smart-phone penetration, the market has witnessed tremendous growth. The online gifting industry is one of the contributors to the growth of Indian e-commerce space and is set to take a larger pie in the overall market in the coming future. The global gifting market is estimated to be $475 billion, and India is expected to emerge as one of the most influential contributors by 2024. India is all set to jump from the current online gifting market of $65 million to $84 billion by 2024, according to the latest research by ‘Qwikcliver’. The long-term growth perspective for India’s online gifting market remains robust. There is emergence of newer players, encouraging changes and innovation in the environment and a mind-shift wherein online gifting will take centre-stage.
Over the last decade, the market witnessed steady growth in the digital gifting market in India, courtesy rising income levels and economical gifting options boasting extreme creativity. Past two years have proven to be landmark years when it comes to the personalised gifting category making it desirable gifting choice amongst Indian consumers. The online gifting market has two segments - Corporate and personal with the share division being 80 percent and 20 percent, respectively. Moreover, the corporate sector in India alone is worth Rs 12,000 crore, and is growing at over 200 percent per annum. Send Personalised gifts online are customer-centric, adhering to preferences and choices of the recipient. A personalised gift is primarily curated for your dearest ones for their special days, not just materialistic but wrapped with emotions and affection. This rising trend of personalised gifts has augmented the entire online gift industry.
A large number of Indian consumers is now technologically updated and look forward to receive optimal services that are convenient and economical. Surging consumer aspirations also mean people expect to make the gifts personal by adding exclusivity factor to it. Tailor-made products account for over $20.4 billion in the industry, and this is just the beginning, the prices are set to rise by $31.6 billion in the coming years. The market is more comprehensive now in comparison to how it was a decade ago. The industry is witnessing emergence of several online players which is diversifying the whole sector. It marks a beginning to an eventful journey and it is expected to have positive impact to the landscape of online gifting market in the e-commerce ecosystem. There is a swarm of online gifting players with many newer entrants who are offering personalised services, tailor-made options which is not just adding value to the segment, but also enhancing service experience.
Read more at: https://yourstory.com/2019/08/online-gifting-india-customised
Over the last decade, the market witnessed steady growth in the digital gifting market in India, courtesy rising income levels and economical gifting options boasting extreme creativity. Past two years have proven to be landmark years when it comes to the personalised gifting category making it desirable gifting choice amongst Indian consumers. The online gifting market has two segments - Corporate and personal with the share division being 80 percent and 20 percent, respectively. Moreover, the corporate sector in India alone is worth Rs 12,000 crore, and is growing at over 200 percent per annum. Send Personalised gifts online are customer-centric, adhering to preferences and choices of the recipient. A personalised gift is primarily curated for your dearest ones for their special days, not just materialistic but wrapped with emotions and affection. This rising trend of personalised gifts has augmented the entire online gift industry.
A large number of Indian consumers is now technologically updated and look forward to receive optimal services that are convenient and economical. Surging consumer aspirations also mean people expect to make the gifts personal by adding exclusivity factor to it. Tailor-made products account for over $20.4 billion in the industry, and this is just the beginning, the prices are set to rise by $31.6 billion in the coming years. The market is more comprehensive now in comparison to how it was a decade ago. The industry is witnessing emergence of several online players which is diversifying the whole sector. It marks a beginning to an eventful journey and it is expected to have positive impact to the landscape of online gifting market in the e-commerce ecosystem. There is a swarm of online gifting players with many newer entrants who are offering personalised services, tailor-made options which is not just adding value to the segment, but also enhancing service experience.
Read more at: https://yourstory.com/2019/08/online-gifting-india-customised
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