By Ashna Gemini Sharan, Portfolio Director, RX India: In recent times, gifting has become more than a ritual; it has evolved as a reflection of business values. The increasing importance of ESG (Environmental, Social and Governance) considerations has further changed the way firms approach corporate gifting.
Additionally, a Marketresearch study has revealed that 57 per cent of individuals feel a sense of appreciation upon receiving corporate gifts. This, in turn, has allowed firms to select environmentally conscious, ethically sourced, and meaningful gifting options that align well with their sustainability goals.
This shift towards sustainable gifting reflects not just environmental responsibility; it also showcases a commitment to purpose-driven engagement with clients, partners, and employees.
Why This Transition Toward Sustainable Gifting?
The move towards sustainable gifting is fuelled by several interconnected factors. Firstly, there’s an immense pressure on firms to reduce their environmental footprint.
Clients, customers, and employees are becoming more conscious of the impact of their consumption. They even expect the same kind of awareness from the firms they associate with.
Secondly, conventional corporate gifts (usually disposable, non-recyclable and generic) can be perceived as negligent or even wasteful in this context. Conversely, sustainable alternatives suggest intentionality and consideration.
They highlight a brand’s compatibility with modern and ecological values. Some of them involve supporting local artisans, reducing plastic consumption, or contributing to social causes.
This shift is also supported by the rising availability of high-quality and eco-friendly gifting options.
Whether it’s bamboo stationery, upcycled accessories, or organic food hampers – a diverse range of sustainable corporate gifting options is available to brands. While these options maintain aesthetics, they also sustain utility.
Benefits For Businesses: More Than Just Optics
Corporate gifting offers strategic benefits for firms. It contributes to the building of strong relationships by incorporating a layer of consideration into the act of giving. Such gifts may foster deeper trust and emotional connection – qualities that have become crucial in modern B2B and B2C relations.
Internally, providing sustainable gifts to staff may help to foster a culture of accountability and shared purpose. It enhances morale and reinforces company values. This is particular to younger employees – usually more sensitive to social and environmental issues.
Also, external communications may incorporate sustainable gifting as a topic of discussion. It enhances a brand’s image in a competitive, value-driven marketplace and provides PR value.
Following this, Research and Markets has predicted that the global corporate gifting market size will reach USD 1.11 trillion in 2028, owing to the novel perks brought in by sustainable gifts to brands.
Furthermore, various events in India present the most recent trends in contemporary corporate gifting solutions, including the sustainable gifting segment. For instance, events like Gift India are open to a wider range of industry participants – indicative of the dynamic nature of the gifting sector.
On the whole, sustainability has become the core of the corporate strategy of various brands.
Not only this, but in the future, eco-friendly gifting options are projected to become more than “good to have” alternatives. They will rather be considered “must-haves” in the corporate gifting strategy.
Firms that proactively embrace this change will not only limit their ecological impact but also reform themselves as value-aligned and future-ready.
Consequently, the question now is no longer whether firms should opt for sustainable gifts. Rather, it has now evolved to how creatively and authentically they can integrate them into their corporate strategies.
Sustainable gifting is not about being trendy. It’s about being thoughtful, responsible, and future-focused. For companies looking to make meaningful connections while making a difference, this shift in gifting culture is a powerful step in the right direction.
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