Indians opting to give online gift cards this wedding season: MakeMyTrip
Rs 10,000 card is the most sold denomination, followed by Rs 5,000, and Rs 1,000. The card allows couples to book holiday packages, hotels, flight tickets, train tickets, bus tickets, and fun activities.
Online travel platform MakeMyTrip on Thursday said it has witnessed an increasing trend of consumers opting to give online gift cards to their friends, relatives, and colleagues this wedding season. MakeMyTrip has seen a 30 per cent increase in sales of travel 'Shagun' card this wedding season (Dec 22-Jan 23) compared to last year (Dec 21-Jan 22), it stated.
Rs 10,000-card is the most sold denomination, followed by Rs 5,000, and Rs 1,000. The card allows couples to book holiday packages, hotels, flight tickets, train tickets, bus tickets, and fun activities.
"We have seen a direct correlation between the sale of online gift cards with the marriage season," said Raj Rishi Singh, Chief Business Officer, MakeMyTrip.
He shared that there is a growing trend of people wanting to gift experiences, a shift from the past when cash and gold were the only options.
"We surveyed to understand the needs of the consumers, and two distinct groups emerged. High-flying executives between 45-55 years, keen to gift something memorable to their friends or relatives. The comparatively younger group, between 30-45 years, want to gift something thoughtful and trendy. Travel Shagun in the form of an online wedding gift card fits the bill for both categories," Singh added.
More than 47 per cent of online wedding gift card buyers added Rs 1 to the total as a symbol of Shagun. The pattern prompted MakeMyTrip to start gifting a Shagun of Rs 101 on every purchase.
Mumbai, Delhi, Bangalore, Chennai, and Pune form the top 5 cities in terms of sales of online gift cards. However, MakeMyTrip has observed increased traction from cities such as Patna and Jaipur, among the top 10 cities, the company stated.
Also Read: Honda City 2023 launched in India - Check price, mileage, features and other details
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
05:51 PM IST