The corporate gifting market in India is worth $2.5 billion, and is increasing at a rate of 200% annually. This surge in demand proves that corporate gifting works in encouraging repeat business, strengthening client relations, and retaining employees.
Corporate gifting is the act of touching base with employees, clients, or prospects viaa gift such as a personalized piece of clothing, or an eGift card. However, it’s not as simple as it sounds because a lot goes behind the scenes — budgeting, brainstorming, sourcing, and delivery.
So, how can you successfully leverage corporate gifting to drive these results? Continue reading as we discuss this and share the latest corporate gifting trends.
Planning for a Successful Corporate Gifting Program?
The first step in planning your corporate gifting program is determining the purpose of the program. Start by asking yourself these questions:
- What are your gifting objectives?
- What type of items do you want to gift?
- Is it budget-friendly or eco-friendly?
- What kind of story do you want your corporate gift boxes to tell?
- How can you make a long-lasting impression?
Once you have answered these questions, start with deciding on the budget and choosing the perfect gift.
Budgeting
To establish the budget for corporate gifts, you need to start by figuring out how much you can afford to spend. This depends on various factors such as:
- Your company’s size
- Your company’s total sales
- The number of people you intend to give gifts to
- Delivery locations — pan-India, international, or limited to one state?
Also, as a general rule of thumb, you should always keep some of your budget aside to cover unforeseen expenses. It’s always better to have too much than not enough because once the results of a gift campaign start to show, the lists of recipients tend to grow.
Sourcing
To help you make a more informed decision, here are some factors you should consider when choosing your corporate gifting partner:
- Wide range of high-quality gift options
- Premium quality gifts ensured.
- Cater to various budget ranges
- Bespoke tailor made gifts
- Eco-friendly gift options available
- Ease of Ordering
- Place orders for multiple recipients at once
- On time every time, anywhere in India
- Customized and personalised packaging
- Track orders, manage deliveries, and generate reports
- Ability to manage last minute order modification
- Responsive customer service to address queries
- Ensuring the protection of personal and corporate data
Last-Mile Delivery
Last-mile delivery refers to shipping items from the closest distribution hub to the final destination, such as the employee’s house. If a present is not delivered on time or in proper condition, the recipient may be disappointed and frustrated, negatively impacting your reputation.
Therefore, when choosing a corporate gifting platform, ensure they offer features such as last-mile delivery and pan-India shipping, among others.
Latest Trends in Corporate Gifting
Data suggests that the top five corporate gifts include gift baskets (48%), company-branded products (46%), and experiences like movies and sporting events (39%)
Here are some more trending gift ideas that you can follow:
- Eco-friendly gifts: You could link your gifting program to your environmental, social, and governance (ESG) practices, as eco-friendly gifts get the company’s positive reviews from over 45% of employees3. Some examples include desk plants, reusable tumblers, and plantable gifts.
- Food gift hampers: Corporate food gift sales crossed over $30 billion recently, indicating a rising trend. Savory and salty treats are also becoming increasingly popular.
- Personalized gifts: Market growth of 400% over the last few years indicates increased popularity of corporate gifts tailored to the recipient’s interests. For example, you can give your employees notebooks personalized with their names.
Plan Corporate Gifting Program with Moglix
Moglix brings to you the ultimate in corporate gifting, with our extensive range of products that cater to every need and budget. From timeless classics to modern innovations, our collection is thoughtfully curated to represent your brand’s distinct identity. With nationwide delivery, no location is out of reach. Make your gesture truly memorable and meaningful, whether it’s a grand statement or a heartfelt token. Choose us for a gifting experience that reflects excellence and care. Plan your corporate gifting program with Moglix to streamline your corporate gifting process.
