Craftmygift is the latest addition to the personalized gift creation site in the indian e-gifting space. The whole concept revolves around you specifying your gifting requirements and the team on the other hand thinking of creative gifting ideas and come back to you with different options for you to pick one. You make 50% payment and your gift will go into production. You will get a chance to review the design work during different stages. The available library of products include a personalized magazine, short story of a person(autobiography), artistic portrait, gift cards etc. I was surprised to see the pricing which ranges from INR 900 to INR 3500, which in the current market is highly overpriced. Why would someone pay that kind of amount when you have alternative cheaper and equally innovate gifting solutions available both online as well as in-store. There are sites like pringoo.com or myantra.com which provide tons of gifting ideas at a cheaper price and in a more simpler manner. Though this concept is worth appreciating but will be difficult to scale up specially if it is relying the traffic to come through internet only. I think the team of craftmygift should definitely study the existing sites to get a sense of what is realistic in today's market scenario. Click here to check out who else is competing in this market
I disagree with your pricing comment.
ReplyDeleteI have been a customer of craftmygift ,and I can tell you the money they take from you is nothing compared to the services you get. Flawless comunication, awesome quality of personalized grpahics designing. Full copy of text from excellent copywritters. Amazing packaging.
I will bet you can't get a sinlge company to complete with the quality of service. You pay for what you get. And people who are serious pay that money , its worth it to the last penny. My mother had tears in her eyes when I gifted my personalized card from Craftmygift to her.
You can't offer similar expereince by printing a photo from your local mall print corner kiosk. Neither can you compare them.
Puneet
puneet0303@yahoo.co.in
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Puneet - thanks for your comments. Regarding pricing, it totally depends upon the segment that you are trying to target. If you go by IAMI internet usage stats, nearly 30-40% of active users in India are college students who probably indulge themselves into online transactions which are not heavy to their pockets. You need to evaluate what % of active users have the capacity to buy such services. My analysis has been based on the number of online gifting shops that i have reviewed in past including the one's who are positioned towards NRI's and who constitute the bulk of online gifting transactions. Check out the business models that are in play right now in this space:
ReplyDeletehttp://e-indiatimes.blogspot.com/search/label/internet%20business%20models