Why Gift Cards Are So Important for Indian Businesses ?

Launching gift cards is becoming increasingly important for Indian businesses for many reasons. If you run a business where you sell your own brand products and services but don’t have any gift cards etched with your brand name yet, it means you are lagging so much in this competitive market. How? Let’s find out.

  1. India is a Land of Gift Exchange Culture!

    The importance of gift cards reflects in the fact that Indians like to exchange gifts on almost every festival and special occasion. When it comes to festivals, India is the only country in the world that has so many festivals. Gift card programs give businesses a unique opportunity to leverage this gift exchange culture and make the most out of it.

  2. Make the Guessing Game Out of the Equation!

    The festive season brings joy as well as many long, exhausting days spent preparing for Diwali. Everyone deserves a delicious meal on Diwali. Given that KFC offers the finest deals on its meals, they make the ideal Diwali present.

  3. Brings More Customers to Your Online/Offline Stores

    When someone buys your gift card, it means that the recipient is most unlikely to not buy from you. When they have a gift card from your brand, it simply means you have got a new customer. And if that person likes what you are offering, it increases the chances of him/her buying something for their loved ones and relatives too from your brand in the future.

  4. The Money Is Yours Even If the Recipient Doesn’t Use the Gift Card

    While it is rare for Indians to not take advantage of Gift Cards, you have got the money already in your pocket even if a recipient chooses not to use or forgets to use the gift card. So, there is no harm to your business and the money you save is only going to increase your profit.

  5. India’s Gift Card Market Is Predicted to Reach USD 93.96 Billion in the Next 5 Years!

    The truth is whether or not you launch your own brand’s gift cards, your competitors are going to! India’s gift card market is predicted to be USD 39.21 billion by the end of this year and USD 93.96 billion in the next 5 years. Various market dynamics that drive the popularity and use of gift cards are :

    • The increasing proliferation of smartphones and e-tailing (e-retailing) giants
    • Spike in the demand for innovative offerings
    • Rising awareness of brand loyalty benefits
    • 4.Growing demand for e-gifting with increased digitalization
    • 5.The surge in incentives for employees by various companies

Apart from this, human emotions also play a significant role that drive decisions, influence the market, and create price signals.

So, it is your choice whether you want to spike footfall in your store, increase sales, and boost your profit or you want to resist the trend of gift cards that is here to stay and influence how people buy and send gifts to their colleagues, friends, relatives, family members, and employees.

“The Trend of Gift Card is the Transformational Force that Is Going to Change the Picture of Gift Industry.”