With Father’s Day just around the corner, in an exclusive conversation with BW Retail World, IGP, a digital gifting platform reveals insights into the gifting trends and its expansion plans. In a recent survey, IGP discovered a shift in gifting dynamics compared to Mother’s Day.
“There is a slight difference in gifting patterns between Mother’s Day and Father’s Day. On Mother’s Day, a slightly higher proportion of men are observed as the primary gifters. However, on Father’s Day, there is a slightly higher proportion of daughters who take the lead in gifting to their fathers,” said Tarun Joshi, Founder, of IGP.
When it comes to gift options, Joshi reveals a preference for personalised items that have both sentimental value and practical use.
“On Father’s Day, it’s a little more focused on utility items that are both gift-friendly and practical for daily use,” highlighted Joshi.
Adding, “Photo frames and gifts remain the largest category, as they allow the sharing of cherished memories between daughters or sons and their fathers.”
Joshi also underlined the significance of quotations as gifts, “It is a lot more about quotations because very few times do you get a chance to openly communicate what you feel about your dad. Okay. So, that also turns out like gifts, where emotions can be communicated via quotations,” he explains.
Utility items play a crucial role in Father’s Day gifting, reminding fathers of their children daily, he said. “Drinkware is also a popular choice,” Joshi added. “Sending a bottle that Dad can keep serves as a reminder of both utility and emotion.”
When analysing the geographical contribution to Father’s Day gifts, the founder highlights, “We are a digital-first brand, so clearly the top 20 cities are more digitally mature,” he states. “The largest pie would come from places like Mumbai, Delhi, Bangalore, Pune, Hyderabad, and then followed by Jaipur, Lucknow, Chandigarh, and these kinds of cities.”
Looking ahead, IGP is expecting its revenue growth up to 60 per cent year-on-year (YoY) for the financial year 2024. The company’s expansion plans involve expanding its presence in more cities and increasing the number of dark stores they operate.
At present, the brand have around 50 dark stores spread across India and it is aiming to double that number to a hundred.
Additionally, the company is also exploring opportunities in international markets, considering the positive reception of its concept in the Indian market.