GiftBig
GiftBig is an Indian e-commerce portal for gift cards, gift vouchers and e-gift cards.[1] GiftBig.com was established in November 2011, and is head-quartered in Bangalore, Karnataka.[1][2] GiftBig accepts orders from across the globe and delivers gift cards and gift vouchers to any location in India.[1]
History[edit]
GiftBig.com was conceptualized and launched in November 2011 by QwikCilver Solutions, as India's First Fully Integrated Gift Card Mega Mall. The parent company, QwikCilver Solutions was founded in 2008.[1][2] GiftBig.com is founded by a team of Industry Professionals with strong domain experience across Payments Technology, Retail, Marketing and ecommerce. Kumar Sudarsan, who completed his Master’s Degree in Mathematics from BITS Pilani has deep functional experience in designing, developing, and implementing technology solutions; having worked with VeriFone, Aztecsoft and Hewlett Packard.[3][4] T. P. Pratap who completed his PGDM from IIM Calcutta is a marketing specialist with experience in consumer marketing and product development with Wipro Ltd, ICI India and Timex Watches.[4] The experience GiftBig's founders in technology development, marketing, marketing research and retail, have helped it emerge as an important player in the gift cards market in India.[1][4]
T.P. Pratap, (Co-Founder) revealed the rationale behind GiftBig in an interview with The Economic Times that was published on 12 November 2012.[1] Research indicated that consumers prefer gift cards over purchasing specific gifts, and the Indian market was ready for a player who could offer prepaid gift cards from various corporate and retail brands under a consolidated platform.[1] QwikCilver capitalized on the demand for online gift cards and launched GiftBig.com as an integrated online mega mall for gift cards.[1]
Operations[edit]
As reported in The Economic Times on 3 Oct 2012, Indians spent Rs 1,800 crore on gift cards in the 12 months ending November 2012.[5][6] The average amount spent on a gift card in the country was Rs 1,400 in this period, but is higher at Rs 3,300 for premium accessory brands.[5] This study also disclosed that, almost 40 per cent of the demand for gift cards came from Tier-II and Tier-III cities.[5]
GiftBig.com has expanded its reach from a small base of retailers to 4,000 premium brand outlets across 250 towns in India.[1] The company now manages more than three million gift cards in India, with over 150 corporate companies as their brand partners.[1] GiftBig’s operational team has grown to 48 cross-functional specialists.[1] GiftBig.com is presently enjoying 30 percent of their orders from repeat consumers, and a 60 percent monthly business growth.[1]
Recent news and activities[edit]
On 26 July 2012, GiftBig’s youth promotional program was aired on Radio One, Bangalore. The popular radio jockey Prithvi and GiftBig’s Co-founder T. P. Pratap spent nearly an hour on the radio show talking about GiftBig, music and life in general.[7]
On 12 October 2012, GiftBig's parent company QwikCilver attended as a panelist at the Internet and Mobile Association of India (IAMAI) Summit, to throw light on the topic "Innovations in Gift & Incentive Cards".[8]
In November 2012, GiftBig.com launched India’s first Facebook Gifting & Marketing Platform – GiftBig Friends Club. This social gifting application enables users to send gifts via Facebook. Friends Club is also touted as a brand engagement and marketing tool, that will allow a certain number of free gift cards, with the option for users to top it.[2][9]
On 7 & 8 February 2013, GiftBig and its parent QwikCilver Solutions participated as the "Gift Card Technology Partner" for Prestigious "Retail Leadership Summit (RLS 2013)[10]
On 15 & 16 February 2013, GiftBig participated in the NHRDN 1st National Compensation & Rewards Summit as the Gift Cards partner.[11]
GiftBig's parent company QwikCilver was selected as the 'Gift Cards Technology Partner' for the 'World Retail Congress Asia-Pacific 2013' conference held between 19 to 21 March, at Marina Bay Sands, Singapore.[12]
In May 2013 it was reported that Shoppers Stop has partnered with QwikCilver and GiftBig to launch their gift card program across India.[13]
In June 2013 GiftBig and its parent QwikCilver won 'The Knowledge Faber Award' for 'Enabling Technology Leadership'.[14]
In August 2013, GiftBig's parent company, QwikCilver Solutions, was selected as Gift Card Technology Partner by Indian Restaurant Congress 2013 held on August 29-30th at New Delhi. http://www.restaurantindia.in/2013/pratap-tp.php
QwikCilver was shortlisted and showcased as " Gift Card Technology Partner" at the flagship Retail Summit - India Retail Forum 2013 in Mumbai between September 25-26th, 2013.
See also[edit]
References[edit]
- ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 Rashi Varshney "Koramangala is hub of vibrancy and innovation, say Kumar Sudarsan and T P Pratap", The Economic Times, 12 November 2012. Retrieved on 22 February 2013.
- ↑ 2.0 2.1 2.2 Sonam Gulati "Helion & Accel-backed QwikCilver unveils social gifting application in private beta", TechCircle & VCCircle.com, 7 November 2012. Retrieved on 22 February 2013.
- ↑ Helion Venture Partners "Helion VC Spot Light", Helion Ventures Website, Retrieved on 22 February 2013.
- ↑ 4.0 4.1 4.2 Shilpa Phadnis "Spirit of Entrepreneurship Kumar Sudarshan & T P Pratap Founders, QwikCilver", Times Of India, 4 April 2012. Retrieved on 22 February 2013.
- ↑ 5.0 5.1 5.2 PTI "Retailers target 1 million gift card sales this festive season: Study", The Economic Times, 3 October 2012. Retrieved on 22 February 2013.
- ↑ Biprorshee Das "GiftBig.com rides the social media wave with Facebook-based gift vouchers", Afaqs.com, 21 November 2012. Retrieved on 22 February 2013.
- ↑ Play Your Music Day. "Audio Recording", First Post, Broadcast 26 July 2012. Retrieved on 22 February 2013.
- ↑ Internet and Mobile Association of India (IAMAI) "Speaker List", IAMAI Website, Retrieved on 22 February 2013.
- ↑ Web Exclusives "Qwikcilver co-founder T P Pratap explains how the digital gift card market is growing in India", Business World Magazine, 19 February 2013. Retrieved on 22 February 2013.
- ↑ Press Releases "QwikCilver Solutions Appointed as “ Gift Card Technology Partner” for prestigious “Retail Leadership Summit(RLS2013): An Invitation to Innovation", The Telegraph India, 22 January 2013. Retrieved on 22 February 2013.
- ↑ Programs & Events "NHRDN 1st National Compensation & Rewards Summit: Total Rewards for an Engaged Workforce", National HRD Website, 1 February 2013. Retrieved on 22 February 2013.
- ↑ Programs & Events "World Retail Congress Asia-Pacific 2013", The Telegraph India, 15 March 2013. Retrieved on 22 March 2013.
- ↑ Partnerships "QwikCilver partnership with Shoppers Stop", Sify.com, 22 May 2013. Retrieved on 30 June 2013.
- ↑ Awards "Knowledge Faber Awards 2013", IndiaRetailing.com, 21 June 2013. Retrieved on 22 June 2013.
15. Diwali 2013 Marketing Initiatives. http://pitchonnet.com/blog/2013/11/11/e-commerce-rides-smart-marketing/
16. Growth Plans for the Future. http://articles.economictimes.indiatimes.com/2013-09-29/news/42503013_1_prepaid-gift-card-smart-card-crore
External links[edit]
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