Gifting firms set to ride Swiggy, Blinkit for growth

Swiggy Ltd has entered the gifting space with a new segment 'Giftables', following a similar move by its larger rival Blinkit. The push into instant gifting is being viewed as a fresh growth opportunity, one that could also lift demand for traditional yet loss-making incumbents such as Archies, Ferns N Petals (FNP) and IGP.

- Vaeshnavi Kasthuril

The launch timing appears strategic with the upcoming festivals set to charge up the gifting space and impulse buying becoming more of a norm.

FNP and Archies do not see Swiggy and Blinkit as rivals. Quick-commerce is their new sales channel that has already become meaningful. They say platforms such as Instamart and Blinkit have helped them expand reach, with FNP doubling q-commerce sales every quarter and Archies getting a fifth of its revenue from it.