If you’re a business owner, chances are you’ve looked at gift cards as just another checkbox, something nice to have, but not necessarily a revenue driver. That mindset is changing fast. And if you’re not already thinking about gift cards as a strategic growth tool, now is the right time to start.
The Gift Card Market in India Is Booming
The Indian gift card market has hit $10.45 billion in 2025, growing at an impressive 16.6% annually.
And this is a clear shift in how customers want to shop, share, and gift and how businesses can tap into new revenue sources.
The Hidden Revenue Potential Most Brands Miss
For businesses today, gift cards help them grow faster. Here’s what the most successful programs do:
- Drive 20–50% higher spend than the gift card’s value
- Bring in new customers by tapping into audiences they couldn’t reach before
- Increase repeat purchases and build long-term loyalty
Take Lenskart, for instance. They used Razorpay Engage Gift Cards to create a smooth, omnichannel experience, one that works equally well online and in-store. What started as a simple gifting tool became a customer acquisition engine.
Stop Seeing It as a Cost. Start Using It to Grow.
For many businesses, gift cards were once seen as a cost center that was tough to manage, hard to track, and low on ROI. But things have changed.
With Razorpay Engage Gift Cards, small and growing businesses are seeing real impact:
What the Future of Gift Cards Looks Like
If you’re planning ahead for 2026 and beyond, here’s what the most forward-thinking brands are already doing with their gift card strategies:
- Smart Targeting: Using customer data to deliver the right offer at the right time
- Omnichannel Redemption: Letting customers redeem gift cards anywhere; store, app, or website
- Tailored Programs: Custom gift cards for different use cases, from festive offers to loyalty rewards
- Built-in Security: AI-powered fraud detection that protects you and your customers
With India’s digital gifting market projected to hit $31 billion by 2030, the real winners will be businesses that stop treating gift cards like plastic and start treating them like powerful marketing levers.
Razorpay Engage: Built for Modern Businesses Like Yours
At Razorpay, we’ve reimagined gift cards for the modern business. Whether you’re looking to boost sales, acquire new customers, or build brand loyalty Razorpay Engage Gift Cards can help you do it, without the operational headaches.
Ready to turn your gift card program into a growth machine?
Explore Razorpay Engage Gift Cards today and unlock a smarter way to drive revenue.
