Gifts: The Next Big Industry Fueled by India’s Growing Middle Class

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You’d be right to sideline gifting as a negligible industry in India until now. As it turns out, the Indian gifting sector is worth an estimated $30 Billion. Although that number may look big, it isn’t nearly as big as it could be. To give you some perspective, the online gifting space is, at this point, estimated to be worth about $100 million, leaving tremendous potential for growth.

Growing Middle Class

The past few years have seen a remarkable increase in Indians buying online. With the consistent rise in internet and smartphone penetration in the country, Indian customers will shop and look to purchase gifts online even more. The question is whether India’s online retailers are ready for that demand.

At this point, very few players are dedicated to enabling customers to buy gifts online. However, some online gift portals have been aggressively promoting online gift buying. The availability of Ferns and Petals coupons online is a good example of how discounts could help one-stop-gifting outlets get some love from customers. The potential for unique and personalized gifts is also something that could accommodate many more merchants.

Unique Gifting

Buying a unique gift is a problem that keeps most buyers irritated. But it is also an opportunity worth millions of dollars. Portals for creative and unique gifts haven’t emerged yet in India and are expected to take off with the first significant player that appears. More consumers are willing to shell out more money to avoid the clutter of all-category retail for some precious, high-quality choices.

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Fan Merchandise

Fan merchandise is an opportunity that’s worth too much to be ignored. Pop culture, TV, and Films have extremely high potential to sell merchandise in collaboration with retailers. The opportunity in the space is enormous, from T-shirts to themed gaming consoles. The increasing nerd population in the country is not something to be taken lightly.

Personalization

Although many purchases of personalized gifts are currently made offline, there is no reason for the behavior not to change. Personalizing donations could be made infinitely easier online than otherwise. Unfortunately, there hasn’t been a player who could successfully crack the market yet.