Valentine's Day: Gift biz to see 45% sales surge over, says Ferns N Petals' Vikaas Gutgutia | Mint
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Business News/ Industry / Valentine's Day: Gift biz to see 45% sales surge over, says Ferns N Petals' Vikaas Gutgutia

Valentine's Day: Gift biz to see 45% sales surge over, says Ferns N Petals' Vikaas Gutgutia

Valentine's Day Sale: Ferns N Petals expects an up to 50% increase in Valentine's Day sales, with gift hampers and personalised products showing 100% growth. This reflects a shift in consumer preferences towards unique and exclusive gifts.

Vikaas Gutgutia, Founder and Managing Director of Ferns N Petals.Premium
Vikaas Gutgutia, Founder and Managing Director of Ferns N Petals.

Valentine's Day Sale: As Valentine's Day approaches, Vikaas Gutgutia, Founder and Managing Director of Ferns N Petals (FNP) expects an impressive 45-50% surge in sales compared to the previous year. Certain categories like gift hampers and personalised products are poised to experience an exceptional 100% growth. This trend reflects a shift in consumer preferences towards unique and exclusive gifts, such as personalised flower bouquets and hampers, eschewing mass-produced items, Vikaas Gutgutia told Mint in an exclusive interaction.

Edited Excerpts:

What is driving the expected growth in sales this year?

With Tier 2 cities and towns moving towards experiential elements, we are expecting a significant 50% increase in demand from these regions. Also by opting for quick commerce as a sales channel FNP has been able to enhance customer satisfaction and loyalty. We started our hyperlocal service in November 2022 in Bangalore and now we have extended our reach to major cities and towns. From this model itself, we are seeing an average growth rate of 40% which witnesses a 2X surge in demand during occasions like Valentine’s Day.

What is the demand you expect this wedding season?

There has been an increase in the number of wedding celebrations this season compared to the previous year. During the few months of the season, FNP Weddings saw a turnover of 70%. While customary weddings with grand celebrations remain the norm the trend is shifting towards more intimate weddings with sustainable practices such as locally sourced flowers and eco-friendly decor. Couples now include their unique love stories into themes and rituals, recreating loved moments like proposals on their special day. In the 21st century, upcoming seasons are expected to feature live streaming, virtual reality photo booths, and other tech-infused experiences for a contemporary touch. Destination weddings, modern rituals, and elegant minimalist attire for weddings continue to be popular trends.

Are there any concerns about the potential impact of increased tourist footfall on the fragile ecosystems of Lakshadweep and the Maldives?

While both islands are emerging as popular tourist destinations, concerns arise with the potential surge in tourists leading to an increase in waste and pollution. The development of infrastructure like resorts and transportation poses a risk to untouched habitats and wildlife, contributing to environmental degradation. Balancing economic development with conservation becomes difficult since these are only dependent on tourism for economic growth. To address these challenges, implementing sustainable tourism initiatives and environmental protection measures is important among the government, stakeholders, and builders.

Will the focus on domestic tourism in the budget benefit Lakshadweep more than the Maldives, considering travel distances for Indian tourists?

The recent emphasis on domestic tourism, both in the budget and government initiatives, will particularly benefit Lakshadweep due to its favourable geographical proximity to the country. Accessible through cost-effective and less time-consuming domestic flights, Lakshadweep has become an attractive domestic tourist destination. Also, the government's focus on enhancing inland infrastructure for port connectivity further enhances Lakshadweep's appeal as a budget-friendly domestic destination which will cater to the needs and demands of Indians. However, the Maldives may continue to attract specific segments of tourists based on their preferences, whether they are Indian or international travellers. In the upcoming future, FNP has plans to extend the Udman Hotels brand by introducing 50 new hotels. Besides Himachal Pradesh, Goa, Rajasthan, and Gujarat, we may consider Lakshadeep as a preferred destination for expansion.

The Interim Budget's focus was on empowering our tech-savvy youth. The establishment of a 1 lakh crore corpus with interest-free loans reflects a commitment to innovation and research. The emphasis on combining youth and technology is commendable. As operators of Udman chain of Hotels, the provision of interest-free loans for tourism development and increased allocation for infrastructure projects bode well for economic growth. This budget sets a promising path for our nation's future.

In the upcoming months, hopefully the government will address key concerns affecting the gifting industry and beyond. A reduction in GST on delivery charges, currently set at 18%, would greatly alleviate the burden on consumers, making gifts more accessible. Additionally, an increase in the income tax slab would inject more spending power into the economy, fostering consumption and aiding in inflation control. Promoting the use of electric vehicles through incentives like discounts and rebates, coupled with infrastructure development for charging stations, is crucial for reducing forex outflows and curbing carbon emissions.

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Published: 02 Feb 2024, 05:12 PM IST
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