Edenred India launches Omnichannel Gifting Platform eCompliments® for Corporates

Mumbai, India, August 23, 2018 - Edenred India, a leading employee benefits company, today launched eCompliments® - an omnichannel gifting platform that aims at building an engaging gifting experience for corporates, employees, customers and channel partners. The platform integrates prepaid gift cards, temporary ecodes, digital greeting templates for all kinds of occasions e.g. festive gifting, rewards & recognition, achievements, certificates and more and allows corporates including SMEs, to place an order for digital gift codes or gift cards or physical gifts anytime. The dual offering is unique to Edenred India as it also operates warehouses through its group company Accentiv India. eCompliments® eliminates the need to request for multiple vendor quotes, as corporate can avail huge discounts by designing their own bouquet of offers.

“The next phase of shift in the corporate gifting trend is coming from smart platforms that will bring together brands, customers & corporates under one-roof. That is where a brand gets a visibility, a customer gets a choice and a corporate gets a simple & smart employee benefit platform. A win-win situation for all,” said Puneet Khanna, who has recently joined Edenred India as a Chief Operating Officer.

“Nearly 66% millennials in the country prefer sending or receiving digital gift cards, this translates into a great ground for a gifting platform that can address this potential. Our newly built, eCompliments is one unique corporate gifting platform that has the potential to increase our business by 400% annually due to a unique mix of digital proliferation & physical supply chain prowess that vests with Edenred” he adds.

The company introduced this platform after witnessing a steady 300% y-o-y positive growth in its sales volume from Ticket Compliments® gift card which was launched in FY 2014-15. With the launch of eCompliments®, the company aims to strengthen this relationship with Corporates by simplifying the registration, ordering and redemption process while offering tax saving benefit on standard gifting as per the corporate employee policy.

By 2024, gifting industry estimates to touch USD 84 billion. And the digital gifting will triple to contribute nearly 8% with a market share of about USD 6.72 billion with corporate gifting contributing nearly 80% i.e. USD 5.37 billion. There is huge untapped market potential and industry has seen a lot of innovations in the recent past & expects the trend to continue in the future. “At Edenred with every rise in number of corporates opting for meal benefits solution increases the chances for upselling the gifting solution. With a rising number of beneficiaries, our platform promises a solid ground for business for brands of all sizes” said Puneet.

The company credits its gift card business growth to a proliferation of both banking & private point-of-sale network leading to an ease of gift card redemption, rise of e-commerce categories i.e. clothing, food items, ticketing and more leading to more choices for the customers, tax benefits on gift cards for corporate employees, simplified RBI guidelines on prepaid instruments, government’s pro-activeness towards digital payments, and majorly a quick adoption of technology by forward looking corporates that are now using digital platforms to disseminate gifts to their employees, channel partners and customers.

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