New Delhi: The corporate gift industry is booming and quality utlility items at affordable prices is the mantra this festive season.
A combination of aesthetic as well as utility items has hit the shelves to help companies strengthen their relationship with clients and employees without burning a hole in their pockets. The trend has witnessed an upsurge in the last few years and according to industry insiders, the estimated market for corporate gifts has reached the Rs.12,000 crore ($2.5 billion) mark.
Exclusive items at affordable prices are what consumers are looking for, points out Anuj Sawhney, managing director of Swiss Military India, a pioneer in corporate gifting solutions.
“What we feel is that organisations today are looking for something exclusive and good in quality. There has been a 200 percent surge in the demand. People are looking for a mix and match of traditional and modern ideas. There is a rising emphasis on premium quality gifts but at affordable prices,” said Sawhney.
“For example, our products such as innovative travel gear are popular for senior level gifting because at that level professionals are always on the go. Our leather accessories and hand-crafted limited edition writing instruments are also extremely popular,” he added.
All this comes at a price range of Rs.290 to Rs.15,000.
Praveen Rao of D’Mart Exclusif said the corporate sector was demanding aesthetic as well as utility items.
“Corporate companies are moving away from traditional items such as diaries and small electric appliances to aesthetic as well as utility pieces. The trend has also picked up among individual gifting,” said Rao.
“Nowadays the corporate sector generally picks up silver trays, a pair of goblets, deities’ gift sets, candle stands, dry fruit bowls and the like,” he added.
Keeping consumers’ demand in mind, Rao’s company offers a melange of utility products such as silver plated crystal gifts, wood and silver tissue boxes, silver-plated coffee set and deities.
“A limited edition of deities hand-crafted in sterling silver, porcelain and marble is being picked up for individual and corporate gifting,” said Rao who is offering his products in a price range of Rs.850 to Rs.6,000, which doesn’t burn a big hole in the buyers’ pocket.
For those looking for high-end gifting options at affordable prices, customised hampers containing a wine bottle, chocolates and other eats is another option this festive season.
“We have an evolving consumer now and Diwali, Christmas and New Year are known to be the best time to acknowledge the work of employees or support of clients by gifting them something different.
“The tradition of gifting sweets has made way for spa coupons and other customised gifting options. We are offering customised wine packages this festive season for our premium clients,” said Tarun Sibal, marketing head of Fratelli Wines.
At Fratelli, wine bottles are paired with various items. For instance, one can pick customised packages of wine and organic caramelised nuts or wine teamed up with playing cards and chocolates, among others.
These are available at a price range of Rs.615 to Rs.2,670 and Sibal says the combinations are a hit.
“We mainly deal with private buyers and corporate clients. We have seen a humungous increase in the demand for customised packages in the past one year. It has risen almost 10 times, whether it’s for internal clients (employees) or mass corporate gifting,” said Sibal who is also offering the option of a customised bottle-neck tag of a company’s logo.
“The demand is so high that we have stopped taking orders now,” he added.
With time, the demand for corporate gifts has shot up, said Sawhney who feels that “the trend is here to stay”.
“The trend is no longer confined to the company’s partners and associates. It has also become a way to motivate employees,” he added.