What’s should be your strategy for primary market in FY25?

This festive season the ritual of gifting employees during Diwali by the companies will resume after a two years break. India Inc is coming up with innovative and thoughtful ideas for the gifts, according to a report in The Economic Times. The corporates are focussing on sustainability when gifting the employees. From indoor plants, biodegradable seed pots, digital health cards, to health bars, corporate gifting has taken a thoughtful twist. After the Covid outbreak, people are adopting more and more to healthier lifestyle choices. The companies have understood this sentiment and are gifting products or things that will help their employees in making a healthier and environmentally friendly lifestyle.

The companies often indulge in gifting during the festive season as it not only amplifies the sentiment of positivity and cheer but also forges stronger relationships with employees. Apart from health products, unconventional items like tortillas, marshmallows, exotic eas, crackers have also become widespread gifting choices among companies. Tarun Joshi, founder of IGP.com said, that companies are also gifting products that are both healthier as well exotic, e.g. Turkish Baklava. From 2019, the companies have also spiked their budget by 23-30%.

Vikas Gutgutia, founder of Ferns ‘n’ Petals said that the company is projecting a CAGR of 116% in 2021, compared to 2019. In 2021, the corporate business is likely to account for around 4% of the total business. In 2019 it was around 1%. The companies’ clients include Volkswagen, Max Life, Met Life, Adobe, Bluestar, lupin, Vedantu, UltraTech, etc.

Another company, Qwikcliver, a digital payments provider also has a share in the digital gift cards market said that the market is expected to expand by 30% in 2021. The company’s co-founder TP Pratap, said that they are expecting the highest-ever rise from new age and medium enterprises this year.