Corporate gifting has imbued the landscape of corporate business with a culture of appreciation and gratitude. It encapsulates the essence of giving back with an emotional and personal touch.
It’s interesting to note that personalized corporate gifts is a very core aspect of corporate gifting, and is picking up steam in India too. It offers an excellent opportunity for brands to establish a sense of e belonging among its members. Corporate gifting influences employee morale and mindset. According to a survey conducted by the Corporate Gifts Company, 45% of employees reported that the value of the gift directly influenced their perception of the company.
Let’s delve deeper into the insights and statistics of the industry on corporate gift items that will help you make informed decisions.
10 Interesting Corporate Gifting Statistics in India for 2024
Increment in Corporate Gifting Budget (Post-Pandemic)
Prior to COVID-19, the corporate gifting budget was limited to less than 10% of the gifting industry. So far, EYantra has reported achieving a margin of 20-23%. The primary reason for this increase is that businesses and brands have raised their gifting budgets by 15%.
Demand for Personalized Corporate Gifting
EYantra studies have highlighted the demand of businesses for personalized corporate gifts. 80% of respondents mentioned that gifts help them boost connections and 88% desired quality and customized corporate gifts.
Surge in Festive Corporate Gifting
The EYantra survey has shed light on various gift occasions, such as employee onboarding, festive celebrations, retirement, recognition and rewards, among others. However, the festive season stands out as it has witnessed increased demand from businesses and holds a prominent position in this category. In fact, 32% of respondents expressed a preference for festive gifting in the corporate context.
Corporate Gifting; A Source of Motivation in the Post-Pandemic Era
In a recent survey conducted by Coresight Research, it was revealed that in the post-pandemic era, 35% of businesses have increased their demand for corporate gifts as a means to foster motivation and loyalty within remote and hybrid work cultures.
Gifting Converts Leads into Customers
ROI is the endgame of every investment and the same goes with Corporate gifting. According to industry reports, unique corporate gifts can have a 2.3 times greater impact on influencing a favourable action. Additionally, McKinsey studies indicate that 80% of survey respondents are more inclined to do business with a company that offers customized corporate gifts.
Fostering a Long-Term Relationship
As per a retail study in the EYantra report, it is revealed that customers who receive branded corporate gifts have 306% higher lifetime value. We all know how vital it is for brands to connect with customers.
Amplifying Client Retention
According to Adobe ABDE’s survey of B2B companies, it is found that the token of gratitude in the form of corporate gifts may increase client retention by 5% and enhance the business profits by 25-95%.
The Prominence of Corporate Gifting in the B2B Sector
Multiple industry surveys have revealed that the corporate gifting industry can yield a remarkable 10x return on investment. This growth and substantial ROI are particularly prominent within the B2B sector, where the strategic use of corporate gifts can foster lasting business relationships and enhance brand perception.
Focusing on Eco-friendly Corporate Gifts
Over time, eco-friendly corporate gifts have captured the attention of businesses. A KPMG study further emphasized this trend by indicating that 8 out of 10 individuals prefer to purchase items from companies that actively contribute to their communities.
Increasing Popularity of Corporate Gifting
The immense popularity of corporate gifting has been a surprising global trend. According to Allied Market Research, the estimated global corporate gifting market size is expected to experience a CAGR of 16% by 2027. This substantial growth underscores the increasing significance of corporate gifting in the business world.
Leveraging Titan in the Corporate Gifting Landscape
Titan Corporate Gifting is one of the nation’s premier corporate gifting companies.
Our meticulous and customized products have turned imagination into reality through the finest craftsmanship and engineering. We’re on a mission to enhance the art of corporate gifting and setting new standards of excellence in the gifting industry at large.
This commitment to quality and innovation has made Titan Corporate Gifting a trusted partner for businesses looking to make a lasting impression through their gifting initiatives.
To sum it up…
The year 2024 is proving to be transformative for Corporate gifting in India. The pandemic, and a shift in mindset at large, have fueled increased budgets, demand for personalized corporate gifts, and put focus on the idea of fostering long-term relationships. These statistics underscore the vital role corporate gifting plays in enhancing employee morale, customer retention, and brand perception. As eco-friendly gifts gain prominence and the global market expands, companies like Titan Corporate Gifting are leading the way in setting new standards of excellence in this evolving landscape.
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