New Delhi, November 1 Gourmet hampers focused on health and wellness, lifestyle and utility products, personalised gifting options and premium food assortments are among the top picks for corporate gifting this festive season as India Inc copes with high cost pressures amidst a challenging geopolitical environment. Tarun Joshi, Founder & CEO, IGP, a leading D2C gift products company, said, “If last year the corporate gifting segment saw a growth of 15-20 per cent overall, this year the growth is to the tune of 12-15 per cent.
Due to the impact of the cost pressures, the budgets for corporate gifting are more or less flattish over last year.” However, he said, “For us at IGP, the growth in the corporate gifting segment this festival season is close to 40 per cent. We now operate nearly 100 dark stores in 32 cities. We offer complete solutions from offering a wider assortment to managing the logistics.
We are seeing a strong focus on health and wellness as well as utility products in terms of corporate gift hampers.” Changing preferences Avi Kumar, CMO, FNP, said that the company expects to close the season with double-digit growth in corporate gifting. “We are seeing stronger preference for handpicked gourmet hampers, premium food assortments, lifestyle and utility products, and personalised gifting formats.
The interesting change is that companies no longer
The interesting change is that companies no longer want 1,000 identical boxes to simply look premium; they want those 1,000 gifts to feel personal. Personalisation, branded packaging and storytelling are therefore becoming almost as important as the gift itself,” he added. For D2C brands like Nestasia, corporate gifting has emerged as a key growth pillar. Aditi Murarka Agrawal, Founder of Nestasia said, “We have seen strong growth in corporate gifting during the peak 90-day gifting period, up to October 30.
Compared to the same period last year, our corporate gifting business grew by 81 per cent in order value and approximately 58 per cent in the number of orders. This reflects the growing interest in thoughtfully designed, useful gifts that companies can give to their employees, clients and business partners. We are seeing corporate gifting become a more considered part of how organisations celebrate occasions and build relationships.” However, Ravi Saxena- CEO and Founder of Wonderchef, said noted that this year corporate gifting is under stress as companies have cut their budget due to “weak sentiments” in the wake of macro-economic conditions and are opting to spend smaller budgets per gift.
“ Wonderchef has managed to achieve growth over last year in this segment, largely by developing new distribution partnerships and clients in new geographies,” he added. eom
