story-banner

With Valentine’s Day around the corner, quick commerce companies bet big on gifting

author-image

Pranav Balakrishnan

31 reads
author-image

Pranav Balakrishnan

31 reads

While the likes of IGP and FNP have traditionally been associated with India’s gifting space, quick commerce firms are giving them a run for their money this year. Their Valentine’s Day efforts appear to be paying off, with Blinkit already breaking its own records for chocolate and flower sales.

February 13, 2024

11 MINS READ

Key Takeaways

  • Valentine’s Day will be a little different this year, with quick commerce players going all out to cater to users’ gifting needs
  • This includes launching private labels and will see them competing with traditional gifting heavyweights FNP and IGP
  • The V-day push by quick commerce players is merely the first step in a larger move to go deeper into the gifting category as they look to drive up their average order values
  • The incumbents, though, aren’t ready to give up the ghost, investing heavily in tech and betting on their specialisation to stay relevant

Valentine’s Day is just around the corner and the gifting industry is busy preparing for its biggest day of the year. This year, though, it isn’t traditional players such as New Delhi-headquartered FNP (formerly Ferns n Petals) or Mumbai-based IGP that are making the most noise. Instead, it is e-commerce companies, especially the quick-commerce ones, that appear to be in overdrive, selling flowers, cakes, and other gift hampers in the fortnight leading up to Valentine’s Day.

Indeed, on February 7, Blinkit founder and CEO Albinder Dhindsa tweeted about how the company, which has featured Valentine’s Day gifting prominently on its app, was seeing record sales of both chocolates and roses. According to multiple people aware of the matter, Blinkit’s ambitions in the gifting space go much further. The Zomato-owned company is doubling down on the gifting and celebration category this year with private labels. According to two sources aware of the matter, the company held talks with multiple prominent cloud kitchen operators to procure fresh cakes from them, with some already available on its platform.

“They will buy the products and it will be sold as a co-branded offering with Blinkit,” said one of the people mentioned above. This marks the first instance of an Indian quick commerce company selling fresh cakes, though they have offered a limited selection of flowers for a while now. This year, Walmart’s Flipkart has also started flower delivery, launching a 3-hour fresh flower delivery service across 450 pincodes.

Read this article for free

Sign in using

Or

Sign in using your email

Don't have an account?

Forgot Password?

By signing up for The CapTable you agree to the

Terms of Service

and

Privacy Policy

of the platform.

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and disruptive startups so you can make better decisions.

Inside View with Org Charts

Know the key decision-makers with Org Charts. We thrive on decoding boardroom conversations so we can bring you a 360° view of what's happening at India's high-growth companies.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View

We thrive on inside scoops and decoding boardroom conversations so we can bring you a 360° view of what’s happening at India’s high-growth companies.

For subscribers only

Premium Reads

>>

View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.