the world of corporate gifting run of the mill articles are
out, thanks to cost-cutting. Reema Sisodia finds out what
has taken their place
economy is passing through a phase of recession', 'people
are not spending', 'companies as a policy have slashed down
Cost-cutting is in with a vengeance and at first glance corporate
gifting appears to have become a casualty to it. But there
is also a flipside. A new gifting philosophy has emerged
traditional seasonal gifting is out, promotional gifting activities
Explaining this trend, Anand Punjabi, proprietor, Hide Park,
suppliers of leather products to the corporate segment, says,
"Corporate gifting is a 365 days business and gets busier
by every day. Those who are spending are spending good money
with attractive budgets earmarked specifically for corporate
Some even say that economic recession is a good thing for
"Recession can in fact boost the corporate gifting scene
since companies rely on gifts as a medium of providing incentives.
Everyone is looking at something different and unique,"
says Tushar Mehta, director, Geetanjali Jewellers of Gili.
He says the emphasis today is more on classic and contemporary
goods, with the focus amongst the top brass and company bigwigs
being on diamonds, gold and silver.
Shiv Kumar, country head consumer goods department, Swarovski,
India, agrees. He says, "Today quality rules and regimented
products are no more acceptable. Class and quality are the
basic hallmarks, which one has to abide by. Crystal specialities
are a big success amongst the corporate players and within
the crystal world, personalisation of the products is what
the present market emphasises on."
Run of the mill products are therefore almost extinct. Quality
products, coupled with sophistication and class, is what is
doing the rounds. Suvir Khullar, proprietor, Micro Solutions,
says, "As a supplier of corporate gifts for over a decade,
I find that the market has matured in its demand and taste.
The buyer today will not settle for anything sub-standard.
The Indian corporate clientele is constantly looking for exclusive
products and new offerings. The demand is toward speciality
products. The typical Made in China goods have completely
lost their charm in the Indian corporate market."
New products that match the requirement of technology is another
highly popular area amongst purchasers. Transparent Mouse
Pads, emergency mobile phone battery chargers and office portfolio
carriers are fast moving items in the market. The planners,
diaries and key chains are out. Pens, one of the most common
gifts, is only acceptable as a fashion product. Shalin Gandhi,
managing director, Aayushi International, manufacturers of
pens and gift articles for corporates, said, "A traditional
gift item such as a pen also has to undergo constant changes
in terms of presentation and style. We have to constantly
create and innovate. To survive, one has to offer fashionable
writing instruments, which can also be a status symbol for
Personalisation of the product and tailor-made items are also
very much in the offing.
Sareen says, "The major activity of our business comprises
of designing products according to client specifications."
Corporate executives also vouch for the fact that gifting
has undergone a subtle change.
"Though volumes of festival gifting may have dropped,
the top management gets its share of goodies. The mid-level
executives will also receive, maybe products that are a little
more reasonable but definitely classy," says an executive
who works for a multinational corporation.
Corporate gifting seems to be here to stay.
Gandhi puts in the final word, "It is a neverending business.
Gifts though tangible in form have intangible results attached