Digital gifting

Abstract

The covid induced lockdowns and norms put a barrier on social events, but it did little to the gifting culture. Gifts are a way to acknowledge a person, and traditionally it has been physical items or cash gifts. However, at present, an alternate option has risen- digital cash gifts, that allow a lot of freedom to both the giver and the recipient of the gift. From being able to gift someone from home to getting something that matches their taste and need, digital gifting has been the perfect solution. In this study, we look the digital cash gifts, and what consumers think about them. We try to find answers to questions like do the consumers prefer digital cash gifts over normal cash gifts? If yes, what are the factors that influence this decision? There is a live experiment with which we tested our hypothesis among the residents of IIM Bangalore. We tried to statistically prove that the nature of events has a serious implication on the consumer’s tendency to gift digital cash gifts. Finally, we look at the recommendation that will impact the rate of adoption of digital cash gifts.