Top Story

e4m_logo.png

Home >> Marketing >> Article

Swarovski upbeat on gift segment

16-February-2005
Font Size   16
Swarovski upbeat on gift segment

Austrian crystal major Swarovski says its gifting segment is growing rapidly in India, thanks to a new set of young customers who have high disposable incomes and numerous opportunities to gift.

Years ago, the age of a typical Swarovski customer was between 30 and 50; now it's 22 and above, says Mr V. Shiv Kumar, Country Manager, Consumer Goods Business of Swarovski India Pvt Ltd.

And the younger customers, apart from having the money to buy and opportunities to gift, also have more options: jewellery, tattoos, smaller décor items, and miniatures called `Crystal Moments.' "Cash is the favourite as a choice of gift but it's `anonymous'. Décor is a popular choice," Mr Shiv Kumar said.

In the process, the 35-plus customers, who earlier accounted for 80 per cent of the gifting segment's revenues, now contribute an equal share as their younger counterparts.

While Swarovski's price range is Rs 1,100 to Rs 2.5 lakh, the bulk of the purchases are in the Rs 3,000-Rs 20,000 segment, which includes gifts (Rs 2,500-Rs 10,000).

The company's products can be broadly categorised into décor and fashion, and gifts generally are décor items as fashion is "more a personal thing."

According to Mr Shiv Kumar, the corporate gifting segment is also picking up, contributing a fourth of it, with businesses looking at newer ways to reward their interest groups.

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Ushering the launch with a campaign titled ‘The New Way to Get Rich’ showcasing how technology gets millennials closer to their financial dreams

Ogilvy and Love Matters conceptualised a campaign that aimed to change the conversation and imagery that is associated with the LGBTQ community and lesbians in particular