Many corporate gifting solution providers like Platinum Corporate Gifts are trying to capitalize on the business opportunity in the domain of corporate gifting. Several of them are running their businesses from Noida and Greater Noida, catering to small and medium enterprises (SMEs). Many have been operating for more than five years, and doing reasonably well.
In fact, Platinum Gifts has managed to almost double its revenues during the last few years with an impressive return on investment (ROI) of nearly 15- 18 percent. An insightful news report by Bhuvnesh Talwar of the ET Bureau analyzes the factors responsible for the growth trajectory.
It quotes Aruna Budhiraja, the Kreative Konsultants owner, as saying: “Noida and Greater Noida township area is today among the major emerging markets for the domain of corporate gifting keeping in mind several top multinationals and SMEs thriving here. For us, NCR is the core market. We customize gift items albeit not regularly. Our ratio of regular to customized gifting is 80:20. We’ve gained 15 new clients and are growing at 20 percent annually.”
According to Aruna, the order size of gifting items ranges from 100 to 500 and for promotional items it ranges between 1,000 and 2,000. The company specializes in handicraft and electronic gift items.
Something Else, another new corporate gifting firm launched in Noida, provides merchandising and promotional items. Some of the craft forms include pottery works and paintings. Its product categories are ‘work’, ‘home and living’, ‘travel’, ‘leisure and play’, along with ‘ethnic and indulgence’.
Something Else, in the initial stages, is targeting SMBs and start-ups, as MNCs are tough to crack when you are new in the business. Its founder Gunjan Varma mentions, “We’ve direct tie-ups with artisans and self-help groups and provide customized solutions to corporates. We are seeing a very good traction on these by IT firms, hospitality and pharma sectors.”
Divya Sagar of Platinum Gifts quipped:”We also customize gifts if a client has something specific in mind. We are more than happy to add a special touch, use their brand colors, add a special message and make all of this fit their budget. The ratio of own items to customized gifts is 60:40.”
Tags: business gifting, Business Gifting
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