‘Gifting’ is a simple concept, associated with giving, warmth and relationship building. It however gets a few categories attached to it once the word ‘corporate’ is added to it.

Corporate gifting is no more an art, it is a science. The Rs 1,500-crore (Rs 15-billion) corporate gift market is looking up. It is expected to grow by between 5 and 7 per cent this year after two bad years of slowdown that hit the industry. Interestingly, people in the business say that of the Rs 1,500 crore blown up on corporate gifts, the pharmaceutical industry contributes nearly Rs 650 crore (Rs 6.5 billion). Among the other big spenders are the IT and FMCG companies.

Despite gifting assuming an important place in the customer relations management plans of most multi-national companies, Indian companies are still dithering and unsure. Their efforts are half hearted and as a result the corporate gifts business has yet not blossomed the way it ought to have. The optimism about the corporate gifts business is born out of two developments. One, the growth in the pharmaceutical industry - which is the single largest consumer of corporate gifts; and secondly growth of retail chains leading to increasing customer focus.

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Study after study reveals companies that incorporate promotional products into their marketing mix, achieve dramatic results. More and more companies are including promotional products in their marketing budget because they are cost effective and extremely versatile.

Increasingly, gifting, as a concept, is being used by companies as a marketing tool, to create brand awareness. T-shirts, caps, umbrellas, bags, etc. — all of these may work well when it comes to creating awareness about brands, which are jostling with one another to create an impression on the potential consumer. As marketing concepts evolve within the corporate world in India, brand recall — not merely for FMCGs but also for sectors such as banking, insurance, television channels and some of their individual serials — is gaining importance.

Has “corporate gift shopping” suddenly appeared on your “To Do” list? Well, you’re not alone. Many professionals have been challenged with the task of selecting gifts for key clients and employees, planning a holiday event or awards banquet or even just preparing for a sales meeting. This assignment usually makes even the most seasoned professionals scratch their heads. Traditional gifts, such as logo-emblazoned coffee mugs, crystal paperweights and other novelty items, are overused and no longer impress executive clients or your top-performing employees. Even more, these gifts have little impact after the wrapping paper is discarded. Personalization of the product and tailor-made items are now very much in the offing.

Mahatma Gandhi puts in the final word, “It is a never-ending business. Gifts though tangible in form have intangible results attached to it.”

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