Industry Trends For Corporate Gifting This Festive Season

The art of corporate gifting is one to be learned. It takes smart thought and good intent coupled with a precise strategy to reach a favourable outcome.

From the many gifting options available in the market, customers often go the green route, swearing by sustainability, while others attempt to soothe their clients’ taste buds by gifting delish treats. Truly, such preferences are personal and require one to keep an eye out to pair the right matter with the right mind.

At present, fast-growing businesses have embraced creative ways to overturn standard gift-giving practices. Some trends include gifting outdoor experiences, products of superior quality, and design-your-own packages. In 2024, the top ideas include tech-savvy gifts, self-care packages, desk organisers, and stationery sets, just to mention a few. These are utilitarian yet chic, often appealing to a large populace.

Big brands too have made the most of this year by coming up with eye-catching, on-the-go hampers. While they seem to have it all in one space, they do not hesitate before adding a unique touch to every order. Undoubtedly, there exists a huge demand for corporate gifts and the industry is destined to grow at a rapid pace.

Technopak, one of India’s leading management consultants, estimates the total size of the Indian corporate and personal gifting market put together in 2017 to about Rs. 250,000 crore. Of this, the corporate gifting market size in the country is nearly Rs. 12, 000 crore and is growing at over 200% per annum.

As per a report by Deloitte, titled ‘The Future of Total Rewards’, companies who invest in recognition programmes are more effective at employee engagement, with 31% lower voluntary turnover when compared to those who do not. Nearly half of the professionals surveyed hoped for greater recognition from their immediate manager and coworkers. This highlights the changing nature of work and the need to think beyond job-oriented compensatory frameworks in the future. Furthermore, such a trend in corporate gifting is giving a chance to companies to know their employees better via personalisation of gifts to keep them engaged.

To break it down, the basic principle behind corporate gifting is simple. It’s about gratitude—in the form of a gift. And, when done the right way, it nurtures meaningful and lasting business relationships. However, every year, many customers end up paying exorbitant prices for suitable products or find it difficult to locate the best set of items.

Speaking about bridging such a gap in the market, Ms. Aabha Gupta, Co-Founder, Ant Mascot, said, “We at Ant Mascot follow a customer-centric approach and aim to provide a tech-powered e-commerce platform, which streamlines office supplies, corporate gifting, pantry supplies, and housekeeping needs. With this, the B2B-focused marketplace ensures timely delivery at a competitive price point with transparent accounting and expense management. With over 300 brands and 20,000+ products, the platform is designed to satiate the increasing requirements of corporate procurement by providing a comprehensive range of customisation options.”

It is worth considering that innovative entities like these are revolutionising how businesses engage with stakeholders. Additionally, SaaS-based engagement platforms are optimising operations and boosting user engagement. Besides, these platforms provide consumers with the ease of purchasing at the click of a button. What more? The sites leave no stone unturned in aligning the purposeful act of corporate gifting with company goals, brand identity, and business values. With companies mushrooming around the world and more and more people being employed by corporate houses, employing different engagement techniques that enhance and build professional relationships has become imperative. Corporate gifting is an integral tool that assists in improving employee engagement and satisfaction, with a personalised gift going a long way in employee retention and promoting a healthier work environment.