Online Gifting Market is Growing Enormously Due to Increasing Internet Penetration

Online gifting market has been growing enormously due to the increasing internet penetration in various corners of the world. And this trend can be easily noticed in the developing countries. With the growing number of smartphone users, it has become possible for people to order luxury gifts online without wasting their time.

Among developing countries, India has the fastest growing online gifting industry due to the high growth of the Indian e-commerce space. By the year 2026, the Indian e-commerce market is expected to grow to $200 billion and it will help to boost the growth of online gifting industry to a great extent. Currently, the global gifting market stands at $475 billion and India will become the most influential contributor in the growth of this global market by 2024.

Out of all the gift types, customer appreciation gifts enjoy a huge demand across the world. Various businesses are looking for online gift shopping platforms in order to offer a unique, memorable, and beautiful gifts to their clients. The online gifting market has been mainly divided into two segments namely, Corporate and personal. The two segments are divided into ratio 4:1, which means the corporate gift market has 80% share and the personal gift market enjoys 20% respectively.

Similar to the corporate gifting market, the share of personalized gift market will see huge growth in the near future. Many corporates are focusing on offering corporate gifts to their customers with a personal touch in order to build strong loyalty with them. In addition to this, the demand for corporate gifts for increasing brand awareness has also increased significantly across the world.