With the right strategy, gift cards can help you control expenses and even reduce your tax outgo.
Gift cards have evolved from simple gifts to versatile digital financial tools, driven by India’s digital revolution. They’re now used for personal gifting, corporate rewards, and marketing. With increased adoption, India’s gift card market is set to reach $15.7 billion by 2028.
Last year, the buzzword in e-commerce was Groupon Inc and its myriad of competitors that offered daily online coupons to entice shoppers in a down economy. Now, the latest fashion in retail is social gifting, where people get together on Facebook to buy each other gifts.
Consumers will be digging deeper into their pockets to buy flowers, gift cards and chocolates on Valentine's Day with average spending expected to rise eight percent over last year to nearly USD 200.