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Gifting has always held a momentous place in Indian culture, reflecting its deep-rooted traditions and values. Over time, gifting has evolved into a more personalized practice, where individuals opt for heartfelt gifts to convey love, appreciation, and blessings. Whether it’s birthdays, weddings, holidays, or graduations, the trend of personalized gifting has gained impetus in modern society.
Why Has Personalized Gifting Witnessed a Boom?
- Corporate Giving: Large companies and multinational corporations have introduced the concept of corporate giving during festivals like Diwali, Christmas, and New Year. This has contributed to the market’s expansion.
- Special Occasions: Days like Mother’s Day, Father’s Day, Friendship Day, and other personal milestones have played a significant role in boosting the personalized gifting business in India.
- Increased Buying Power: As consumers’ buying power has increased, their aspirations for a more affluent lifestyle have led them to seek unique and customized gifting options. These personalized gifts serve as symbols or gestures that establish a personal connection between the giver and the recipient.
- Online Shopping: The rise of online shopping, fueled by digitization, widespread internet access, and efficient logistics, has given birth to a thriving online gifting industry. Customers from Tier 2 and Tier 3 cities are embracing online opportunities, contributing to the industry’s overall growth.
- Advancements in Technology: Secure payment systems and advancements in technology have further fueled the personalized gifting industry’s rapid growth.
India, being one of the key emerging markets in the global gifting industry, holds a promising future for personalized gifting.
In summary, the personalized gifting industry has witnessed significant growth, driven by a combination of tradition, innovation, and changing consumer behavior.