Indians taking to gift cards over cash, physical gifts

As appeared on livemint.com by Rashmi Aich, on 25 May 2016.

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Gift cards in many segments are gaining popularity as they offer flexibility, convenience and, choice to recipient

For her wedding in February this year, Nandana Das, 29, a Bengaluru-based communications professional, was happier with the gift cards she received for online and offline stores than the many cup and saucer sets and bedsheets. “Some gifts were of no use and also not as per my taste. Gift cards give me the flexibility to buy anytime, anything and from anywhere. It gives you the option to actually buy what you want,” she said.

Das is part of the growing tribe of Indians who prefer such cards over cash and personal gifts. According to a report by QwikCilver Solutions Pvt. Ltd, which runs gift card platform Woohoo, 54% of respondents in a study said they prefer giving gift cards. Such cards are available in both physical and digital formats, and are offered by e-commerce sites, banks and retail companies.

“Cash is seen as too impersonal. With a gift card, you can decide on a brand or an e-commerce platform and your loved one can decide the gift,” said Pratap T.P., co-founder and chief marketing officer, QwikCilver.

As it is going to be the wedding season in many parts of India, gift cards may be preferred. Bengaluru-based software professional Shilpi Sinha, who got married in November last year, said, “I prefer giving gift cards as they are more convenient to use and can be gifted and sent anywhere. At my wedding, most of the physical gifts I got were things I already had.”

Apart from online portals, brick-and-mortar stores are also seeing an increase in sale of gift cards. “The sale of offline stores through e-gift cards has increased from nil a few years back to 25% now,” said Pratap.

“One doesn’t need to carry the digital gift cards. And as most gift card purchases tend to happen at the last minute, it’s convenient to buy and send,” said Firoz Khan, founder and chief executive officer, GiftCardsIndia, a gift-card aggregator. The market for gift cards has grown 40-50% in the past 3 years and is set to grow further as more people are adopting it, he added.

Mint Money take

Although gift cards offer flexibility and choice, do remember to check the expiry date on them. Moreover, any left over amount won’t be returned.

For bank gift cards, the minimum amount you need to put in is usually Rs.500 and the maximum is Rs.50,000, though these limits vary. Then there are charges such as for issuance, and replacing a lost card. These can’t be transferred either.

So the next time you get a wedding invite, you may consider these cards over the wall clock you were planning to give.

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6 Gifting Crimes

Not all gifts are kind, not all are useful. No matter given with whatever amount of love, some end up being hopeless. Have you been the culprit or victim of one of the below gifting crimes?

  1. How do I get inside this?

Not every dress is ‘One Size fits all’.  Many a times a good deal of money is gone down the drain due to fitting issues.

  1. Same Pinch!

You are rare, you are special. If you also prefer designer clothes, a copy around might be very disappointing!

  1. Where to keep this?

An odd furniture or a mismatched crockery set might just ruin any day! Should you really take the chance of gifting one such thing?

  1. Not my style..arghhhh.

If you don’t notice her style, you are at loss. And your gift is a waste!

  1. I see that small stain there, right there!

You might have spent a fortune on your gift but how embarrassing when you got to prove it, everything because of that small stain!

  1. I hate this!

Your reaction when you get something that you really hate and absolutely don’t need.

 

 

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Woohoo partners with Wrangler for True Wanderer 5.0

As appeared on retail.franchiseindia.com by the Indian Retailer Bureau, on 17 May 2016.

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True Wanderer event allows people to champion their sense of freedom whilst discovering their spirit of adventure and exploration.

Riders and voters to avail of Woohoo gift cards with access to 150 brands across 20 categories.

Woohoo, powered by Qwikcilver solutions, homegrown gift card company has been announced as the official gifting partner for Wrangler’s True Wanderer 5.0, an annual event for riders across the country organized by the American outdoor denim brand.

True Wanderer event allows people to champion their sense of freedom whilst discovering their spirit of adventure and exploration.  The top 10 riders will embark on a journey of a lifetime and share their experiences through photos, videos and blogs to capture the day’s events and upload their experiences on the official Wrangler website. Judging will be based on the content generated by each rider and votes received. The 10 finalists have started their journey and the winner will be announced next week. The winner of True Wanderer 5.0 will be entitled to win a Triumph Bike and Woohoo gift cards.

“We are very excited about the strong partnership with Wrangler. This partnership offers a different, integrated solution for communicating the freedom of adventure of Woohoo. The association also adds value by helping the brand move into territories that communicates to a younger audience,” said Pratap TP, Co-Founder and CMO, Qwikcilver.

“We believe that it’s an association between two like-minded brands to offer best value for the consumer. Wrangler believes in bringing to life the spirit of freedom and adventure through its stylish apparel. By partnering with the unique gifting solutions offered by Woohoo, we will be able to offer freedom of choice to many more people across India,” added Krishna Dorai, GM, Wrangler.

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