Why Festive Season is Great Opportunity for Corporate Gift Business?
Gifting is fundamental to festivities. Across different festivals, like Diwali, Christmas, New Year; people are seen indulging in the exchange of gifts with their relatives and family members. By way of gifts, people express their greetings and best wishes to their dear ones. Also, the exchange of gifts fosters stronger relationships, according to the experts of gifting. And, that’s how corporate gifting came into the picture. To enhance business relationships with employees, clients, and to build business relationships, companies started exchanging corporate gifts.
Promotional Products Association International says, giving business gifts is proven to increase business activity, hence increasing the return on investment. Thereby; making corporate gifting a trend that every business tends to swear by.
With the festive season in full swing and the most auspicious and celebrated Diwali festival just a month away, corporate gifting has picked up the pace. It’s because Diwali is a festival of togetherness, spreading joys and smiles with gift sharing as an important ritual. Just like you give gifts to your friends, family, and extended family of helpers and staff. The corporate family also orders Diwali gifts for corporates, employees, associates, and every other person that is important to the business. Thus, it is seen that Diwali time is a profitable period for those in corporate gifting business because of the huge demand and supply of goods. Big and large scale industries place an order of bulk corporate gifts allowing the suppliers and manufacturers of promotional gifts to earn huge profits.
Next, why festive season is a great opportunity for corporate gifting business because every company wants gifts for their corporate family that are unique and exclusive, this gives the players in the market the chance to showcase their best for gaining an upper-hand over their competitors and for luring as many buyers as they can with their gifts.
In recent years, a shift from the traditional gifts to personalised corporate gifts have been witnessed. This increase in demand for customised products has led to the establishment of a booming personalised gift market over the years, with more and more names adding to the list. Corporate gifting makes for 80 per cent of the total market share. The corporate gifting sector is growing at a whopping 200 per cent annually, as per a 2017 report by Techopak, which means many businesses view it as a profitable industry to start their business, especially during festivities.
In short, festivities like Diwali, Christmas, and New Year is the time when companies tend to give corporate gifts. During the festivities, it’s a win-win for Corporate Gift Business!