Xmas gifting to witness 15-20% surge

Gifting culture in India experiences a significant boost during the festivities. While Diwali remains the dominant gifting season, Christmas is quickly catching up, especially in urban areas. It is expected to grow 15-20 per cent in the current fiscal.

Advertisement

According to Technopak Advisors, the Diwali gifting market is worth over Rs 2 lakh crore. While Christmas gifting would be around Rs 25,500 crore. “Christmas gifting would be close to $ 3 billion (Rs 25,500 crore) and it is growing at 15 per cent year-on-year. As far as contribution of the northern region comprising Delhi, Haryana, Uttar Pradesh, Uttarakhand, Chandigarh, Punjab and Himachal Pradesh is concerned, it would be less than 20 per cent — around Rs 5,000 crore. The Christmas gifting culture is more prominent in South India,” Piyush Jain, Founder CEO, SkinInspired, said.

The rising trend of celebrations in offices especially in the IT sector and Christmas parties among friends have contributed to this surge.

“Over the past few years, there has been a growth of 15-20 per cent in sales of gift items during Christmas and the industry is anticipating the same growth this year. The purchase is not restricted to a particular community or one religion,” a Chandigarh-based retailer said.

Christmas provides an occasion for corporates to strengthen relationships with employees, partners, and clients. Secondly, the availability of personalised and innovative gifting options has captured the imagination of the consumers. Further, online shopping platforms have made it easy to discover and purchase unique gifts.