How often have we agonised over buying an appropriate wedding gift?

If you have not been able to think beyond conventional items, here is an an option to select the ideal gift for the bride or groom.

Chennai-based start-up Zibonga has come up with an online gift registry platform, where the bride/groom can create a registry specifying what they actually need, such as home appliances, travel coupons, furnitures or even cash.

People who wish to gift them can make their contribution to one or more of the gifts specified, eliminating duplication and recycling. Couples can redeem contributions made within six months.

Sajan Abraham, Founder-Director, Zibonga, said: “Youngsters these days are furnishing their own houses after marriage. So this gift registry will be of use to them.”

The company is testing the product with youngsters, especially from the IT sector. “The product, so far, has been well-received.”

Weding market

The portal, launched in October 2016, has been associated with four weddings so far, and four more are in the pipeline.

The Indian wedding market accounts for about ₹2.6 lakh crore, and is growing at the rate of 20 per cent every year.

“In this (market), gifts account for about 10 per cent of the total money spend in a wedding. The concept of a gift registry is very new to India, and this gives us huge potential.”

Though the registry is not restricted to wedding and includes events such as retirement parties or house-warming gifts, Abraham said weddings will be the major revenue generator.

The company has partnered with eight gift partners and gets a commission of 3-8 per cent per transaction at the time the gifts are redeemed. This is the major source of revenue for the company.

“In case of cash registry, we charge a transaction fee of about 5 per cent from the host,” Abraham said.

The company has invested ₹45 lakh in the product.

Now, it is looking for funding to expand its venture across India. Majority of the funding will be used for marketing the product and reach a wider audience.

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