future of gifting

The World Is Not Enough: Corporates, enterprises and institutions in India have been the fastest adopters of the new age Gift Card Technology Platforms.

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The Indian Gift Card industry has seen the quickest adoption in the Corporate and B2B world. This is expected as the Gift Card is an incredibly powerful reward and loyalty tool for the corporate world. Take the case where Abhishek Sinha, National Sales Development Manager,Britannnia was faced with a massive and a highly heterogenous network of distributors and wholesalers spread across the country. To have a system that would accommodate the requirements and choices of each one in that vast network definitely gives an edge for the business and the loyalty the brand strives for.

If Tomorrow Comes: Gift Cards Shall be the most preferred gifting choice for Indian weddings & festivals

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A tricky question, “Do we really know which gift to get for our loved one?” On this note started the 2nd panel discussion where the panelists recounted their own funny and not so funny experiences of gifts that have backfired. From personal gifting experiences to gifting experiences at weddings, this discussion had it all.

Dil Chahta hai: Gift Cards have become an Inherent strategic component of the Portfolio for the Brand & Retailer. How do Brands need to shape up in the new era going ahead?

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Panelists from left; Rajeev Krishnan, Suparna Mitra, Shariq Plasticwala, Vinay Bhatia with the moderator Kumar Rajagopalan
This was the first panel discussion of the Qwikcilver Gift Card Conclave 2017. The disucssion began with a witty Q&A session by the moderator Kumar Rajagopalan, CEO Retailer’s Association of India, where he engaged the audience on why they chose to gift. The candid answers paved the way forward for the panel discussion.

Number of digital gift card transactions in retail grow three-fold

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Physical and digital gift cards are emerging as a major source of footfalls and sales for retailers across categories. The number of digital or e-gift card transactions has risen three-fold in the last three years, while physical gift card transactions have grown by 41 per cent between 2014-15 and 2016-17. According to a study by Qwikcilver , an end-to-end service provider in the pre-paid gift card space, issuances of both physical and digital gift cards have risen by 150 per cent in 2016-17 to over 50 million, up from over 20 million in 2015-16.

Start-up eyes $4 bn. gift card pie

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Qwikcilver is the single largest service provider in the prepaid space. Bengaluru-based Qwikcilver aims to manage gift card transactions worth $4 billion in the next two years. The start-up has a 90% market share in the gift card segement, the firm’s co-founder Pratap T. P. said in an interview. “We are looking at $4 billion of throughput (for gift cards) being managed,” said Mr. Pratap, 47-year-old co-founder and director of Qwikcilver. “We are not saying that we have invented gifting. It is the oldest hobby in Indian mythology. But we are packaging gifting fundamentally to the new age Indian consumer.” The gifting industry in India is estimated to be worth about $40 billion and about 2% of it comprises the ‘gift card’ category. This is an opportunity that new-age firms may not have tapped so far.

The Business of Gift Cards Is Here To Stay In India

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The custom of gifting is infused in Indian culture and value system. Gifts have always played an important role in traditional occasions like religious festivals, anniversaries and weddings. They have assumed a significant role in modern age celebrations, involving millennials, like Valentine’s Day, Mother’s Day, Father’s Day and a host of other such occasions.

Gift card segment to grow 400%

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The gift card segment in India is likely to get a huge boost this festive season with projected growth of 400% over the last year, according to the Qwikcilver Gift Card Survey. The survey was carried out across 400 towns across 10,000 points of sale and also factored in the buying behaviour of 4,00,000 shoppers on Woohoo, the company’s ecommerce platform. Qwikcilver cofounder Pratap said gift cards were becoming the preferred gifting option, with the company averaging almost 3-4million cards a month.

Qwikcilver Eyes Rs 2,000-cr Gift Cards by March-end

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Riding on the back of the fast growing Indian etailing market, gifting card solutions provider Qwikcilver sees the value of active cards on its platform reach . 2,000 crore by the end of March. The company, which counts Amazon among its investors, expects to increase this value further five fold in the next three years.

QwikCilver riding on rising demand for gift cards

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The Indian gift card market is expected to receive fresh funding of up to $50 million which will enable key players such as Amazon-backed QwikCilver Solutions to ride the next wave of growth in digital cards. Increasing consumer adoption of gift cards over the last two years, especially digital gift cards over physical cards, has seen QwikCilver’s sales growing 300 per cent year-on-year. The ₹3,000-crore Indian gift market card is expected to touch ₹9,000 crore by FY-2018.

Qwikcilver achieves 90% Market Share in Gift Card Technology

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Qwikcilver, India’s pioneering & leading Gift Card Technology company is set to take the next big leap this festive season. Qwikcilver who currently enjoys 90% market share in the Gift Card processing technology segment is projecting this segment to sell 30 lakh Gift Cards this coming festive season. The last fiscal year, the company reported a category sales of 25 lakh Gift Cards and this year it is projecting to further leverage this growing trend and driving sales of over 30 lakh gift cards. Despite the slowdown in the economy and the falling rupee, Qwikcilver and its other initiatives continue to aim high.