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Gift a medium of Motivation, Appreciation and Recognition.
The Growing Gift Industry has no doubt become an immense market place and a majestic sourcing opportunity under one roof for all sorts of buyers
People buy and give gifts to build and intensify their association with the recipient. In other words, the gift itself becomes means to strengthen relationships. It sometimes plays a major role in balancing between personal sentiment and professional behavior which sends the right kind of message in the right manner. Gifts can be a medium of motivation, recognition, and appreciation. Like a gift given to a child for passing an exam becomes a motivational factor whereas if an employer gifts an employee it can be called as a recognition factor or an appreciation factor. A holiday season is an ideal time to give a gift but there are other factors also where you can gift a person. Infact you can separate yourself from the crowd by giving in the off-season like giving a gift after completion of a big project or on a special event like opening of a new office or shop or on the onsets of the exams for student as a way of wishing them luck. The culture of gift giving was earlier restricted to festival season, however in recent times it has emerged as a tool for marketing, HR and PR Departments in all business.
The question raised is what to buy and how much to spend ? To which the answer is who is the person and how important the person receiving is. A gift should be elegant, timeless and practical. Whether given to an individual or to a group it should be taken into consideration that the gift need not be the biggest but it has to be the best, suiting the occasion and time i.e gift for thanks giving occasion, for congratulating someone or for welcoming someone. They don't have to be expensive but then you don't want to look cheap either. Greeting cards are the most sentimental and eligible manner and can be given to all from children to responsible adults and convey the message in most appropriate manner. Archies and Hallmark rule in the Indian market in greeting cards along with other manufacturers and suppliers. If the gifts are for small children then toys are the most suitable gift , toy market today flourishes with various educational toys which opens a child's mind and serve the purpose of playing too, if it is for a school going child then stationery products today are the most ideal gift. The stationery market is vast market and today a variety of retail outlets sell a variety of attractive stationery products. If gifts are for employees then office stationery or office products like a pen or a pen holder, file with personalised name engraved on it, a table watch, diary, planner etc are considered appropriate. If given in a holiday season then chocolates, dry fruits etc are also advisable. If the gifts are for corporate levels then may be the gifts can be a little sophisticated and technologically advanced like a digital diary, palm top or a card scanner etc. If the gift is for a celebrity or for welcoming someone then flowers with a small remembrance gift with your company name engraved on it is a fruitful idea. If he or she mentions a special hobby and if you can find a gift that coincides with a hobby you can count on your attentiveness being appreciated. Unlike a personal gift a corporate gift should be reflection of your company or business. If you wish not to gift a person in kind or if you are not able to think of an appropriate gift for the moment an ideal thing to present during those times would be a gift voucher of a distinguished departmental store or could arrange for a holiday trip on his favourite place. But one should always remember the golden rule that even if you plan to give something small to an individual it should be thoughtful. Plaques and trophies are also a great way to recognise a special achievement.
Gift Etiquette.
The prior most important rule of gifting is that the person should not be offended by it like a gift given to your client should not be taken as a bribe. There are many other ways to offend that one needs to make sure to avoid. Even plenty of social and religious aspects play a major role in buying a gift. It also depends upon country to country and person to person or people from different cultures. The correct art is to see whom and when you are giving the gift. Just remember that you don't have to spend much to make an impression but instead your gift should be meaningful. Even if you are tight on your budget you can buy gifts, just be creative.
The Growing Gift Market.....
The world of Gift industry is complex and varied. It is no doubt an immense market place and a majestic sourcing opportunity under one roof for all sorts of buyers. Buyers with novelty ideas, creative products and productive business opportunities today stand a chance in this market. The gift industry is shifting to a more year round business with today's gift retailer being less dependant upon seasonal sale. The season for big spending to strengthen business contacts is very much in vogue now and around Rs.1000 crore gift market is looking up to progress. Fashion has driven the Indian retail market. It is expected to grow by more 5% to 10 % than the past year. Today departmental stores are an ideal place to shop for gifts, whether your gift is personalised, business oriented, corporate or promotional there are hundreds of ideas present to you in different stores which suits your taste and budget. Sources from gift industry say that to avoid being boring their companies are experimenting with innovative ideas like jackets, T-shirts and Telescopes as gifts. The idea is to make the gift unique, presentable and interesting. With the prospects of growing demand also lifestyle companies, silverware manufacturers and importers of glassware and porcelain have also entered the gift market thus giving an extra boost to the market. More over what's more amazing that along with the old sparkling silverware religious idol's retailers in the market, now new players like leather goods supplier are ready to make an entry in the corporate gift market with a wide range of their leather goods items like bags, wallets, purses etc thus giving a modern touch to the market. The ups and downs in the gift industry have also been seen because of the particular states capacity to spend. While Mumbai is the biggest spender, Delhi doesn't go beyond Mithais and thus lacks sophistication. Even the Toy gift class is relatively price sensitive. Industry estimate indicates that the agreeable retail price for mass market toys is between Rs.100 & Rs.200,at this price toys find a ready gift market and also easy acceptance by parents to purchase for their children.
The gift industry as per experts see a huge turnout of imported products too. Many foreign places like Honk Kong, Japan, Korea etc have entered the Indian gift market. The Taiwan Gifts and Novelty Industry have said to make a mark in the world competition. Their products have been able to maintain a fine reputation in the other overseas markets. Their concept of making innovative products at less expensive prices has proved to be a threat to many developing countries. Hong Kong is also an important sourcing centre for gifts and houseware products. But despite the competition from neighboring market and constant changing trends the industry continues to strive ahead with unfailing efforts. There are various practicalities to consider after you have bought a gift like, effective wrapping and packaging which creates an excellent impression. Also while sending food gifts you need to consider packing and delivery. This is where also the paper industry contributes their part in the gift industry. They produce a variety of attractive gift papers in various designs. Also pretty paper with customised designs such as stylish thank you note makes an exquisite gift for letter writers , letter and stylish envelopes in visually appealing gifts play a major role in the novelty and gift market. Thus giving further growth to the gift market.
Changing Buyer's Attitude.
Also the outlook of Indian buyers has begun to change. Price no longer is the major issue and nor it is given of greater importance except in some parts. A product quality, design and it's outstanding and useful features have instead become the centre of attraction today. Because of this changing attitude today the value and standard of the gifts and it's industry has been elevated. Today buyers with creative ideas, new products innovations and profitable business scopes have no stoppage to flourish in the market. Therefore capturing a greater share of the gifting marketplace has now become a significant marketing opportunity for product marketers and retailers.
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