Indian men splurging on gifts

The gifting market in India is estimated to be the largest in Asia Pacific, and is close to Rs 600 million.

People are increasingly spending on expensive gifts to maintain their social status, this has emerged in a study done by global research firm TNS for Diageo India the world’s largest maker of alcoholic drinks including Johnnie Walker Scotch whisky and Smirnoff vodka. Interestingly, it’s men who are splurging more on gifts in India than women. Men spent Rs 76,000 in 2009-10 on buying gifts as against Rs 22,000 by women. Rising disposable incomes and an expanding social circle means not just family, but friends too rank high on the gift list. What’s more gifts have also turned bolder with electronic items trumping traditional favorites like sweets, clothing and crystal etc. Electronics are expected to maintain the lead for the next two years.

Gadgets such as iPods, music players, laptops and digital cameras are the most preferred gifts. Electronic devices are followed by music and movies, home appliances, gift vouchers, beauty products, alcoholic drinks and sports equipment. People are not only gifting enthusiastically on birthdays, weddings and festivals, but also on anniversaries, New Year, Valentine’s Day, Mother’s Day, Friendship Day, parties, farewells and office events. Pens and books are also high on the list. Meanwhile, this overwhelming surging spending by the Indian consumers marks the entrance of many international brands in the country.