Dynamics of gifting industry is fast changing

The total corporate gifting industry in India (both unorganized and organized) was roughly Rs 6,000 cr last year according to an estimate. The festival season starting with Diwali constituted no less than Rs 2,000 crore. This underscores the importance of such occasions even for hardcore business environment when it comes to building bonds and lasting relations.

With the exciting corporate gifting and branding season having already taken off, your company must be looking for the most appropriate gift. Diwali might have been over but Christmas is round the corner and New Year celebrations follow. Keeping this in mind, we try to throw light on a wide array of options, which can be considered for timely gifting.

Gone are those good old days when any formal ubiquitous gifts would do. Gifting ideas were mostly limited to fancy flower bouquets and sweet boxes. Things have now dramatically changed. Giving and receiving gifts has become a big business. It can be treated as a routine activity or else the very idea will backfire as you may end up creating negative impression in the minds of your employees, clients and business associates – something that you cannot afford.

So corporate houses, the marketing and branding divisions in particular, are very meticulous in gifting giveaways even while sticking to their budget constraints, further stretched by rapidly rising inflation and higher bottom lines. Despite this every year, the scope and size of our overall corporate gifting industry is only growing.

The country’s top companies are leaving no stone unturned and even emerging business houses are going out of the treated paths to push the boundaries of routine gift giving norms so as to cajole both, their business associates and employees. On the other hand, to capitalize on this lucrative opportunity, leading gift manufacturers in India are introducing many unconventional, interesting and offbeat gifts in the marketplace. With rising demand and increasing innovative, the entire dynamics of the gifting industry has changed. This has given rise to the trend of catchy designing, packaging and presentation – as important as the gift inside itself.

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