The use of gift cards has become widespread in India, replacing cash transactions and offering a safer and more convenient option for both consumers and stores. Gift cards can be used to purchase goods and services, as well as given as gifts during festive seasons and ceremonies. Indian stores use gift cards to increase brand awareness and drive sales. The top five most popular gift cards in India are Amazon Gift Card, Google Play Gift Card, Steam Gift Card, iTunes Gift Card, and Uber Gift Card.
What Is a Gift Card and Where to Buy Them in India
A gift card is a preloaded voucher that can be used for online and offline transactions in stores. It offers a convenient and hassle-free way to shop for products and services. Gift cards can be physical or virtual, depending on the preference of the buyer and the recipient.
Physical gift cards are typically plastic cards with a unique redeemable code. They can be purchased from local retail stores, big supermarkets, and even online brand stores. These physical gift cards make for great traditional gifts and can be presented to the recipient in person.
On the other hand, virtual gift cards are digital codes sent via email. They are a popular choice for those who prefer contactless transactions and online shopping. Virtual gift cards can be easily purchased from various online platforms, including popular e-commerce websites and dedicated gift card stores.
Where to Buy Gift Cards in India
There are several places where you can buy gift cards in India. Here are some popular options:
- Amazon: Amazon offers a wide range of gift cards for different brands and stores. You can purchase them from the Amazon gift card store.
- Supermarkets: Many big supermarkets in India have dedicated sections for gift cards. You can find a variety of options for different brands and retailers.
- Restaurants: Some restaurants also offer gift cards that can be redeemed for meals and dining experiences.
- Online Brand Stores: Many brands have their own online stores where you can purchase gift cards directly. This allows you to choose from a range of options and customise the gift according to your preferences.
Whether you prefer physical or virtual gift cards, there are plenty of options available for you to choose from in India. Consider the preferences and interests of the recipient, and select a gift card that will truly make their day.
Why Gift Cards Are Popular Among Indian Shoppers
Gift cards have gained immense popularity among Indian shoppers due to several factors. Firstly, studies have shown that a significant majority of Indian consumers prefer giving gift cards over cash when it comes to gifting their friends and family. In fact, 73% of respondents stated that they would rather opt for gift cards as a meaningful present. This shift in consumer preference has resulted in a remarkable sales growth in the gift card segment.
During the last festive season, the gift card market witnessed a tremendous surge, with sales predicted to surpass 10 million cards. This equates to a growth rate of 400% compared to previous years. The increasing sales figures can be attributed to changes in gifting habits among Indian shoppers. Rather than simply fulfilling their loved ones' wishes, consumers are now focusing on providing meaningful gifts that align with recipients' needs, making gift cards an ideal choice.
Moreover, the convenience and choice offered by gift cards have made them even more popular. Indian consumers appreciate the flexibility they provide, allowing recipients to choose their desired products or services. Whether it's the freedom to shop online or visit physical stores, gift cards cater to the diverse preferences of Indian shoppers. With gift cards, individuals can explore a wide range of options and select something that truly suits their tastes or requirements.
The rise of gift cards in India can be attributed to their appeal as a more thoughtful and practical gifting option. The increasing sales growth, consumer preference, and the ability to offer meaningful gifts have made gift cards a popular choice among Indian shoppers. Furthermore, the convenience and flexibility they provide have cemented their position as a go-to gift for various occasions, contributing to the continued success of the gift card market in India.
The Impact of Digital Shift on Gift Cards in India
The digital shift in India has had a profound impact on the gift card industry. With the increasing adoption of digital gift cards, mobile wallets, and contactless payments, the traditional concept of physical gift cards is evolving rapidly.
E-gift cards, which are digital versions of traditional gift cards, have gained significant popularity. In 2020, they accounted for nearly half of the gift card market share, and this trend is expected to continue during the upcoming holiday season. Indian shoppers, particularly the tech-savvy Gen Z, are embracing digital gift cards as a modern and convenient gifting option.
Furthermore, the rise of mobile wallets and contactless payments has further facilitated the digital shift in gifting habits. Indian consumers are increasingly relying on their smartphones to make payments, and digital gift cards seamlessly integrate with mobile wallets, making the whole process more convenient and secure.
According to a recent survey, an astonishing 96% of Indian respondents expressed their desire to gift digitally in the upcoming holiday season. This statistic underscores the growing preference for digital gift cards and the changing landscape of gifting in India. As the digital shift continues, it is clear that the future of gift cards lies in the realm of digitalization, offering both convenience and flexibility to shoppers.