Start-ups are Enhancing the Online Gifting Experience

Nandini Mukherjee, Managing EditorThe gifting industry has evolved signifi cantly in the past few years. Some time back, the market was hooked at US$30 billion of which US$400 million could be attributed to the digital space. When segregated into three categories, the share of festival gifting stands at US$7.5 billion, personal gifting accounts for US$20 billion and corporate gifting is at US$2.5 billion. According to Technopak, one of India's leading management consultants, the total size of Indian corporate and personal gifting market put together in 2017 is about INR 250,000 crore. Online gift portals have become popular in India. The rising trend of personalized gifts has augmented the online gift industry.

Consumers are now seen increasingly being engrossed with the concept of finding a variety of
options on one platform, buying it within minutes and getting it delivered to the desired location. The trend of consumers buying gifts online and personalizing any product by writing messages or quotes on them is also high on growth. With the rise in online gifting trend, there has been a surge in the number of start-ups in the online gifting space.

These start-ups offer a platform that helps consumers and corporate find and customize the perfect gift that combines knowing of the personality of the person, their interests, and crucially, their age. Sourcing a wide range of products from entire India, these creative entrepreneurs offer a whole lot of gift products that are designed and developed by best of the creative minds and helps a user discover best experiences that can be gifted.

Some of them also provide real-time booking with the help of their own technology platform while others plan to tie-up with small stores and websites to promote their products. Our current edition features a list of “10 Most Promising Online Gifting Startups” The list features some of the coolest start-ups that are set to revolutionize the gifting space by showcasing some out-of- the-box and rather interesting gifts. Even though the online gifting industry in India is indeed in the nascent stage but it is directly proportional in terms of growth of Indian eCommerce industry. With the impressive annual growth rate of more than 67 percent, we can clearly comprehend the near future of this industry.

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