You didn’t know that, right? That is because no one talks about it!
There are many such facts about gifting that people never talk about. Facts about how much money people spend on gifts. Facts like women are better at buying gifts.
Here, I have put together six such interesting facts about gift giving in India. Remember, these are not just random numbers; these are facts.
1. 50% of Recipients do not Like the Gifts they Receive
It is true. Almost half the people do not like the gifts they receive. I mean, you don’t always love the gifts you receive. Right?
According to Prof. Karen Pine’s study, almost half people lied about liking a gift from someone close to them. Therefore, when buying gifts, do some research and understand the recipient. Do everything possible to make sure the recipient falls in the other half.
2. The Average Price of Gift is around Rs.500
How much money do you think an average Indian spends on buying gifts?
According to various stats, Rs.500 is the average amount an Indian tends to spend on buying gifts. However, what they buy depends on the occasion. It also depends on how close they are to the recipient. We talked to some local gift shop owners and they backed these findings.
3. Women are Better at Picking Gifts
A couple of years back, a survey by TNS revealed that men tend to spend more money on gifts. That said, it doesn’t mean men are better at choosing gifts. The numbers that came up in another survey, the same year, underlines this fact. The survey says women are much better than men are at picking gifts.
The reasons they put forward are even more interesting. One, women plan early and shop early, while most men are last minute buyers. Two, men tend to run out of ideas for buying gifts. Women always come up with something. Three, men don’t really spend enough time to study the recipient. Women stalk their giftees!
So, my prediction is, if you expect to receive a more personalized gift on your birthday, expect it from a woman! 😉
4. The Favourite Colour of Gift Wrapping is Red
Do you think wrapping the gift with colourful paper is just another custom? I used to think so! Little did I know that wrapping gift with attractive paper is more than just a custom! And believe me, it gave me nothing but trouble.
Indians prefer their gifts to be wrapped with some bright coloured paper. Preferably red. Other bright colours like blue and green are also preferred. But, never use white gift wrapping paper. It is considered inauspicious.
5. Money Forms the Majority of Gifts
Gifting cash is categorized as a last minute gift. But, look at it this way. Most of these gift givers believe that money allows your loved one to buy what they actually love or need.
According to a Wakefield Research, 65% people prefer buying physical gifts for their family. If the recipient is someone outside the family, 51% prefer cash. The research also went on to study the habits of the recipient. It shows that, 31% of people who received money as gift invested it for the future.
6. We Love to Plan & Budget
The research by Wakefield Research says that majority of Indians, almost 87%, plans their budget well ahead of the next festival or occasion. (I’m definitely in the other 13%!) And the funny thing is, about 72% of these people end up spending more on the gift than they had planned.
Here are some more interesting facts and numbers that came up during market research. These numbers are from reputable resources including eBay.
- 76% women believe it is important to hand over the gift in person
- 71% people think about giving a personalized gift
- The biggest worry of people in India, about buying gifts, is about finding the perfect gift
Understanding these trends and stats will definitely help you in buying your next gift. You now know how much to spend on gifts. You know how important gift-wrapping is. I hope you will try harder to get your gift right next time. All these will make you a better gift giver.