Most of the Indians had opted for gift cards and coupons for retail purchases during the October-December 2013 festive season.
Transactions made through gift cards and coupons increased by 50-80%, according to major retailers such as Shoppers Stop, Spencer’s Retail, Future Group and DLF Brands.
Shopper Stop marketing and loyalty senior vice-president, Vinay Bhatia, was quoted by The Economic Times as saying that the rise in demand for gift cards and vouchers reflect a change in the psyche of Indian consumers who are now willing to offer such vouchers instead of carrying physical gifts.
According to retailers, the sale through gift card is good for them as it leads to higher billing value than the gift card value.
Following the rise in sales through gift cards and vouchers, retailers are looking for new ways to promote them.
Indiatimes shopping head Saurabh Malik told the daily that the overall growth in this category is in direct proportion to the growth of e-commerce.