Corporate Gifting in India - The Current Market Scenario, Emerging Trends & Future Prospects
Shalin has been associated with Submarine Pens for over 37 years now and has been the driving force behind taking the company towards the pinnacle of success. Additionally, he has also held the role of Partner at Glosss Lifestyle and Managing Director at Ozark Marketing. Siliconindia recently got the opportunity to interact with Shalin Gandhi, Founder & CEO, Submarine Pens, wherein he shared his insights on the evolution of the corporate gifting sector in India in recent years. Below are a few selected excerpts from the exclusive interview
What are your thoughts on the current corporate gifting landscape in India?
The corporate gifting landscape in India is undergoing substantial growth and transformation. Projections indicate that by 2024, India will play a pivotal role in the global gifting market, contributing significantly to the estimated $475 billion industry. Further, the market within the country is expected to be worth $84 billion, with corporate gifts constituting more than 80 percent of the total gifting items. Recognizing this potential, our focus on writing instruments aims to capitalize on this booming market by enhancing production capacity, constantly innovating with new models, and strategically planning our development at least six months in advance. The dedication extends to expanding our sales and back-office teams to meet the escalating demands of the corporate sector.
Briefly explain the role of technology in helping organizations customize their gifting products.
With the latest advancements in technology, organizations are increasingly leveraging various technologies to personalize their gifting products, especially in the corporate sector. For instance, we as a modern day writing instruments company have all the necessary technological advancements in place to help us offer a huge variety of options for businesses engaging in promotional activities. Additionally, technology also offers manufacturing companies the ability to incorporate company logos, branding elements, and even personalized messages on the gift items to enhance their overall look and feel.
How can companies use customized gifting items as an effective marketing tool to enhance their brand image?
Customized gifting items serve as a potent marketing tool for companies looking to enhance their brand image. For instance, being versatile and universally utilized, personalized pens can be distributed at various events and conferences, or even included in welcome kits for new employees. The constant exposure to the company’s logo and branding on these personalized items reinforces brand recall. Additionally, the act of gifting itself fosters positive associations and goodwill, strengthening the relationship between the company and its clients, partners, or employees. This level of customization not only adds a thoughtful dimension to marketing efforts and reinforces brand visibility, but also creates a lasting impression and helps thee organization to stand-out in the competitive market.
In your opinion, how do you expect the corporate gifting industry in India to evolve in the days to come?
The future looks bright of the corporate gifting sector in India going forward, especially for stationary products like pens which find significant demand in across various industries. Pens are not only functional but also symbolic, often serving as a representation of a brand in various professional settings. As events and exhibitions continue to be an integral part of business engagement, the demand for gifting products that can also be used as promotional items is likely to persist. Modern online retail platforms and e-Commerce businesses are expected to play a crucial role in shaping the future landscape of the corporate gifting market in India. The sector’s evolution will likely involve a continued emphasis on innovation, personalization, and meeting the diverse needs of businesses across industries.
