In the case of sweets gifting, it becomes even more imperative to consider the brand name as cheap quality products can cause harm. Here is everything to know about personalised sweets gifting franchise opportunity.
In India, festivals are incomplete without sweets. To celebrate festivities and rituals, we usually consume or exchange sweets and mark the celebrations of enjoyment and happiness. And as the trend of personalised gifting has surfaced in India, many brands are reaping advantages of India’s cultural association with gifting sweets.
A personalised sweets gifting is a very nascent business idea that has quite a big potential, especially in India’s gifting industry. In a culturally-rich nation like India where festivals keep going all along the year, investing in personalised sweets gifting franchise becomes a lucrative approach towards entrepreneurship.
In conversation with Franchise India, Arpit Chawla, Co-Founder, Meetha Shagun, gives us a few insights on the gifting industry in India, its growth catalysts and much more. MeethaShagun is an online luxury sweet and concept gifting brand.
Talking about the trend of gifting in India, Arpit says, “ Gift-giving as a concept was never new to Indian society. It has been in practice since the old times. It is a token of reverence for dear ones for their love and affection. Furthermore, for Indians, festivals have cultural implications where emotions are associated with every aspect of celebration. Therefore, in the current busy lifestyle, the festival is a time to get in touch with your family and friends and an occasion for gift exchange and conversation to convey the message you hear.”
Just as old as the concept of gift-giving, the tradition of consuming and giving sweets as a gift in festivals is also quite an old thing persisting in Indian society. And now that the tradition of gifting is being revolutionised by the introduction of customisation, the sweets gifting is also becoming quite trendy. “The sweet gift is not limited to offering only the "Mithai Dabba", but people are interested in the flavours inside it. The demand for traditional sweets is unsalted, but it has to be admired by the tastes of everyone from old to new generation along with other fusion sweets,“ opines Chawla.
The industry has also seen a great inclination towards packaging. Apart from the taste, the presentation is highly valued. Online shopping is another trend given the busy time and prevalence of digitization across the globe.
Festive Season as Icing on the Cake
The very emotion that fuels people to foster their relationships makes them spend money in buying precious gifts for their loved ones. And with the festive period around the corner, gifting becomes imperative.
In a recent report, it has been revealed that 90% of purchase decisions are emotion-driven. And festive period is when positive emotions are on the high side; hence people buy gifts for their loved ones the most. Hence, the gifting industry in India witnesses high demand during festivals.
The festive season usually marks its beginning from the month of September (with Navratra and Diwali) and ends in December (with Christmas and New Year Celebration). Even though we celebrate festivities throughout the year, but the festive season becomes way more special because of the continuity of the festivals. Just as e-commerce websites like Amazon and Flipkart take advantages of the festive season to boost the sales, the gifting industry can also benefit from the festive season.
“India offers a large market for gifting but is not limited to the exchange of gifts only. The country is a land where emotions play an important role in everyone's life. Moreover, with such diverse fields of culture, India is home to a wide array of festivals, in which traditional, culture and emotional aspects are associated with the festival. Therefore, giving gifts during festivals is a means of expressing love and reverence for someone,” comments Arpit.
When it comes to gifting, many consumers prefer a renowned brand’s products to be gifted to their loved ones. And in the case of sweets gifting, it becomes even more imperative to consider the brand name as cheap quality products can cause harm. So, starting with a fresh and independent business is not a great option for those who are trying to enter this segment. However, franchising creates so many lucrative opportunities for aspiring entrepreneurs in the field of personalized gifting.
There are a number of players in the personalised sweets gifting market that operate on a franchise model. With the franchise model of expansion, the franchisors get the chance to expand their business at lesser risk while franchisees can enjoy various benefits such as brand recognition, low-startup cost, higher ROI and many more. In such a scenario, those who wish to invest in the personalized sweets gifting market, buying a franchise of a renowned brand could be beneficial.
Typical Franchise Requirements
Investment: Rs 5-10 Lakhs
Area: 150-300 sq ft
Expected ROI: 70%