In the Rs 12,000-crore corporate gifting market in India, growing by over 200% annually, there is an 80% preference for eco-friendly gifts that send a positive message. The trend for conscious consumption is so dominant that there are brands solely focused on sustainable gifting.
One such brand, Loopify, which is an online store for eco-friendly products, has over 5 lakh products like bottles, soaps, gift wraps, mobile stands, etc, with zero-plastic promise. Hemal Gathani, co-founder, told FE that he gets several orders from corporates, which typically spend in the range of Rs 1,000-Rs 2000 per gift for employees, and Rs 3,000-Rs 5,000 for business clients. The brand caters to over 300 brands, including Google, Amazon, etc.
For biomaterials startup Phool, which has become a go-to gifting destination for corporates, the demand for sustainable gifting has quadrupled since 2017 when it launched.
It offers a range of products by recycling floral waste to manufacture organic, handcrafted and charcoal-free incense sticks that do not produce harmful toxins when burnt.
A gift box collection with charcoal-free incense sticks, incense cones, essential oils, wellness packs, gift packs and more made from natural flowers offered at temples is in great demand. “Sustainability will become the focus of festive gifting in the years to come. We have reimagined the gifting experience with a focus on sustainability, superior design and thoughtful inclusions. The gift boxes stand out in a market cluttered with run-of-the-mill gifting options sold for decades. The focus is on making products good for the environment, consumers and people who make them, as these have found resonance in large and small corporations wanting to do meaningful festive gifting,” said Apurv Misal, head of marketing & sales, Phool. The brand has collaborated with several corporates and caters to clients like Sun Pharma, ixigo, Kellogg’s, Glenmark, Tata Trusts, Standard Chartered, State Bank of India, Razorpay, Tanishq, Microsoft and others.
Gifting brand FNP (Ferns N Petals) is gearing up for a strong year of growth as there has been a growing demand for sustainable packaging with aversion to plastic. “Price sensitivity remains crucial for corporates always but we are looking at a 60% surge in revenue and sales this time in the overall gifting segment. Dry fruits have emerged as the top choice because of long shelf life and better health quotient. Many new-age companies are gravitating towards utilitarian gifts and wellness products as top choices,” said Neha Bisht, AVP, B2B, Ferns N Petals. The brand uses eco-friendly materials like hay for packaging and minimises the use of tapes. FNP gets clients that typically allocate budgets ranging from Rs 1,000 to Rs 2,500 for gifts.
Brands offering gift packs also are sitting up on the sustainability front. Like Dabur, which is offering a multi-floral honey gift pack in eco-friendly packaging. “Gifts should leave a positive impact not only on the recipient but also on the planet. We are gifting seed pens to our key opinion leaders this time. We have also curated special gift packs for our products. The range of sustainable gifts is aimed at inspiring conscious consumption and promoting eco-friendly practices this festive season,” said Mohit Malhotra, chief executive officer, Dabur India.
Bisleri, too, has adopted a sustainable business strategy in gifting. “We are investing in sustainable merchandise made from recycled PET bottles as gifts for our partners this year. This represents a reflection of Bisleri’s commitment to the greener promise of a sustainable future,” said Angelo George, CEO, Bisleri International.
To cater to the ongoing festive demand for sustainable options, Iconic coffee brand Tim Hortons has launched a sustainable hamper starting at Rs 1,800 with a limited-edition merchandise copper mug along with a pack of premium Arabica coffee.
The Body Shop is expecting double growth for gifting this year. “Corporates are asking for functional and conscious choices. We are anticipating double growth for our bestseller kits and are receiving maximum orders for reusable tote bags and handcrafted gift pouches handcrafted by a community of women from Teddy Exports, a fair-trade export partner, with a commitment to women empowerment and sustainability,” said Harmeet Singh, VP, marketing, product & digital, The Body Shop Asia South.
As per Markets Report World, the global corporate gifting market size was valued at $696,082 million in 2021 and is expected to reach $1,132,029 million by 2027.
