Thanks to increased digitization, gifting has become very convenient. This has led to a surge in the popularity of online gifting. Sellers have relied on this accessibility in order to grow their brand and reach many people in a short amount of time.
In this report, despite the pandemic shutting down many shops, the gift card market has been influenced by various factors in the past year. This includes the growth of e-commerce, incentives for employees to work remotely, digital gifting, and initiatives undertaken by the government, hospitality, and travel industries to revive growth.
Confetti Gifts started with Rs 50K, made an astounding turnover of Rs 2.5 Cr this year to prevail past the pandemic. The Jaipur-based gift shop initially started out with corporate gifting only but built itself up to move into the B2C realm.
Learn how this gifting company scored healthy growth despite pandemic obstacles
How does this Jaipur-based gifting brand recognize the gifting market?
The story of how this Jaipur based gifting startup clocked over 2.5 Crore in the face of a
“I lived away from India for 26 years, and I wanted to personally send fond memories of the Motherland to my friends. There wasn’t any software which could help me find that perfect gift for each recipient – because I’d remember the person’s favorite things and chocolates and candies and handkerchiefs.” Saumya returned from the UK in January 2019 after completing her MBA from the University of Manchester. She wanted to order some goodies for her friends in India
Jaipur-based gifting company knows how to honor an individual’s taste or likeness with a variety of options in a limited way. The founders recently gained revenue to Rs 2.5 Crore due to their thoughtful gifting options in a pandemic-ridden India.
High gas prices and a pandemic led this giftery to ditch its previous custom publishing model and embrace AI. Jaipur-based Saumya saw an opportunity in the gifting industry and forayed into it despite the pandemic.
Confetti Gifts founder got her initial investment for her business with hundred bucks she had saved up. She relied on building partnerships to grow Confetti Gifts to now have a turnover of Rs 2.5 Cr per year
Celebrating diversity with everyone
Saumya has made use of pandemic countermeasures to successfully grow her gifting business…
In just one year of operation, Confetti Gifts – a Jaipur-based gifting startup – has clocked a turnover of more than Rs 2.5 Cr, facilitated 200+ orders, and shipped their hamper boxes across the length and breadth of India despite a pandemic.
With a variety of products on the site, customers can create customized gifting boxes. Because of the pandemic going on in India, there was no marketing budget at all, so the success has been mostly word-of-mouth for this start-up.
While other Indian services are suffering, this gifting company was clocking Rs 2.5 Crore in gross merchandising. Gift boxes start at Rs 1,000 and go up to Rs 3,000 with the average being Rs 2,500.
Saumya of Confetti Gifts had more access to corporate gifts due to the pandemic where business slowed down. Most of the company’s customers were from Jaipur, and it was able to reach a Rs 2.5 crore turnover.
Using Amazon as a prime example, Confetti evolved from an Amazon vendor to a full-service brand to end up serving over 200 Amazon retailers. Other major brands support Confetti through promotions, marketing and sales.
How offline shops are keeping commerce running
As of yet, Confetti only sells through its website. It’s also marketing products on its Facebook and Instagram accounts, but Saumya says that she wants to only focus on the website to “maintain exclusivity.”
Starting with Rs 50K, this company clocked a 2.5 Cr profit in just one year. 60% of the company’s sales come from online requests and 40% come from corporate gifting. The brand, which serves millennials aged between 18 and 28, not only sells pan India but also exports to countries like the US, the UK, Denmark, the UAE, etc.
Saumya says, “Things are changing rapidly, especially within the global exporting market.”
A company that has its finger on the pulse
Confetti, founded shortly after the global pandemic, overcame challenges like increased expectations and disruptions. Talking about this success and future plans with companies like Amazon and IBM is its founder Saumya!
As a low-margin startup, Jaipur-based gifting brand has grown its turnover by more than fifty folds despite the epidemic thanks to its focused strategy of utilizing data.
During the coronavirus pandemic, Confetti’s sales have increased owing to the move from offline to online. In February 2021, Confetti alone sold 1,300 boxes with an average order value of Rs 2,753.
This gifting brand is on track
Despite a pandemic, this regional gifting brand successfully raised money and increased turnover. Saumya has positioned itself against competitors such as ITC, Ferns and Petals, Giftaffair, and IGP through its branding and product lines.
“We have a lot of invested system, mathematics, and logistics put in place to ensure that our customers get a customized experience. We also understand their likes and preferences,” she adds.
Confetti offers a variety of products from greeting cards to photo frames for all of your gifting needs. Choose Confetti to make someone smile with gifts this year!
Going forward, Saumya shares that the company is planning on how AI can bring efficiency to their e-commerce based gifting business. Eventually, they will be introducing AI into their backend systems and another specific product line in the coming months.