Growing demand during the season times and other occasions have made gifting a 365 days business that gets busier by every day.
Gifting is a 365 days business that gets busier by every day; it is a never-ending business. Gifts are a nicer way of rewarding the work done by one; Gifts though tangible in form have intangible results attached to it. Those who are spending are spending good money with attractive budgets earmarked specifically for gifting, then let the buyer be a common housewife or a businessman and or she/he may be buying for gifting someone near and personal or for gifting some colleague in the office.
In the gifting field everyone is looking at something different and unique. Today quality rules and regimented products are no more acceptable. Class and quality are the basic hallmarks, which one has to abide by, buyer today will not settle for anything sub-standard. The market has matured in its demand and taste. The demand is towards specialty products; also personalization of the products is what the present market emphasizes on. New product that matches the requirement of technology is another highly popular area amongst purchasers. But in the quest for innovative items, many are trying to focus on the utility of their gifts and wonderful carved frames, vases, mobile phones, show pieces, Sweet boxes, penholders, clocks, household product, glassware and electronic gizmos are all in the gift option list during this season. A pen, one of the most common gifts, is acceptable as a fashion product too.
Previously gifting was not a usual practice in India, one never use to get gifts on birthdays and no other days like valentine day or mother’ day or father’s day was celebrated here, infect in some aspects gifting was considered like going into obligation and one use to think as if it was a mode of getting your work done. So one use to consider it as a form of bribe or bakshis, which was found too demeaning. But, attitudes are changing, today, we find people accept gifts more gracefully than they did a decade ago. It now also enjoys a unique position in assuming an important place in the customer relations.
If not for the economic slow down in the last few years, gifting business would most certainly have blossomed in India. Though the RS 1,000-crore (RS 10-billion) gift market is now looking up. The gifting industry in the next five years would witness some eye-popping growth, growth of retail chains leading to increasing customer focus is also the reason of it’s bloom. There is no doubt that the business has taken roots. After all the tradition of offering festival gifts is a way of building personal rapport and gifts are generally a goodwill gesture coinciding with an important milestone or any other festival.
The industry is expected to grow by between 5 and 10 per cent this year after two bad years of slowdown that hit the industry. With the prospect of growing demand during the season times, lifestyle luxury companies, silverware manufacturers and importers of glassware and porcelain are going all out to woo the public. What’s more, after seeing the lucrative prospects in gifting industry even new players like leather goods exporters hope to make an entry in the gifts segment to enjoy optimum business opportunities.
Karishma Roy
http://www.articlesbase.com/marketing-articles/rejoice-the-season-with-gifting-pleasures-102853.html
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