Gifting Shifts Gears

Corporate gifting has come a long way from those imported Chinese merchandise to specially manufactured theme based merchandise, from gifting which was done by companies alone to gifting done by even an individual in bulk. The word ‘corporate’ is no longer relevant and has now changed to ‘bulk’ gifting.

Gone are the days when pharmaceutical companies or their likes, would hunt the market for novel Chinese gifting ideas which are worth hardly anything,

Gone are the days when the best gifting idea for a corporate to their employees were gift vouchers which are easily accessible and do not need any brain storming,

Gone are the days when the gift revolved around just apparels or bags,

Gone are the days when you had to run from pillar to post to find a vendor who could supply the merchandise,

Gone are the days when the vendor who supplies to a particular corporate was one of the largest gifting company.

No offense to the Chinese made products, but we are to be blamed because the products chosen by us were meant to be sub standard and light to a client’s pocket with maximum revenue for the gifting company. China has given the Indian manufacturer a run for his money, for products which are at least 2X the price in India even though there are freight, import duties and other taxes applicable. Beware Indian manufacturers, you need to pull up your socks if you at the least want to compete when it comes to ideas which are an Indian Speciality. There is no denial that products which are a daily requirement like apparels or bags would at all times attract demand, but there will be a time when the manufacturers would have an army of salesmen who would visit the client directly and eliminate the middle man or reduce the gifting company’s revenue to negligible terms. Revenues on these products are any which ways the lowest since maximum of the so called gifting companies only deal with these.

Not only the future but the current trend too lies with gifting companies who are willing to work as per the client’s need or theme and not according to the stocks available at their own warehouse. Novelty does not always mean it has to be a brand new product but it could also be, how an idea changed the product. Clients today look for products which fit the theme of the event rather than what is available in the market. Events could vary from seminars, exhibitions, festivities, motivation, appreciation, etc. It is time that gifting companies do not ask the first question as, what is your budget, but asks what is the theme for your requirement.

Gifting companies priority should at all times remain to look for products which are innovative, can be connected to themes, can be customised, can be delivered within a shorter time line, can be presented or packaged well, can be transported across geographies and to top it all, if the product can be termed as “priceless”.

To be continued..