Fascinating facts and features of corporate gifting

The total corporate gifting industry in India (both unorganized and organized) was roughly Rs 6,000 crore 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.

Corporate gifts leave behind an indelible mark. Hence, they need to be picked with lot of care. You cannot go ahead and gift something that is just pretty and attractive. It must ideally reflect your company, product or your brand. At the same time, it must be in tune with the philosophy and image of the corporate client you’re planning to gift it to so that latter would well appreciate your gesture and would remember you for a longer time.

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.

Last but not the least, while choosing the right gift is important, how you give or present it, is also vital because gifting is not just about brand recall, it’s about people. Make it a point to select a utility item instead of just a luxury gift with high face value but little functionality quotient.

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