The global corporate gift market size is estimated to be worth USD 252.16 billion in 2023 and is projected to reach USD 365.16 billion by 2032, growing at a CAGR of 4.2% during the forecast period.
Corporate gifting serves as a strategic method for companies to strengthen connections with stakeholders, including employees, clients, and customers, by providing considerate gifts like tech devices, branded merchandise, gift cards, and memorable experiences. Corporate gifts play a crucial role in recognizing and enhancing employee satisfaction, as they boost morale and demonstrate appreciation for their accomplishments. They also aid in retaining talent by showing recognition for employees.
Just like gifts can express gratitude to customers, build loyalty, and promote repeat purchases, they also aid in enhancing business connections. Furthermore, presenting gifts to coworkers demonstrates goodwill, strengthens collaborations, and promotes teamwork. Giving gifts in a corporate setting is vital for enhancing relationships with employees, clients, and partners, improving brand visibility, building trust, fostering loyalty, and obtaining a competitive edge in the marketplace.
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Key Players in the Corporate Gift Market:
Pujiang E-Thing Craft Co. Ltd. (China)
Ever Rich Gift Limited (China)
Pujiang AF Crystal Craft Co. Ltd. (China)
DONGYAODA (XIAMEN) TRADING Co. Ltd. (China)
Guangzhou Kinglaiky Industrial Ltd. (China)
Foshan Nanhai RongHuaXing Tourist Products Factory (China)
Shenzhen Osea Technology Co. Ltd. (China)
Caroo (USA)
Swagup (US)
Quanzhou Changyi Crafts Gifts Limited (China)
Ningbo Wilshine Stationery Co. Ltd. (China)
Hua-Star Industrial Co. Ltd. (China) and other major players.
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Corporate Gift Market Trend Analysis:
Drivers:
The key driver for market growth is SMEs and large corporations that significantly require corporate gifts to enhance their reputation and company's image. Businesses buy gifts for staff and clients for different reasons that aid in boosting the company's earnings. Gaining the trust of employees and clients is essential for business growth; therefore, appreciating employee efficiency and reliability through this corporate gift is vital for building that trust.
Opportunities:
Various companies are involved in creating new corporate gifts that offer a profitable chance for the corporate gift market. The creative gifts feature promotional tech items like laptops, smartphones, digital cards, action cameras, wireless mice, dash cameras, selfie sticks, and additional products. Companies that produce corporate gifts embraced new technology for their customers. For example, Giftchill is an online gift retailer from the UK that introduced a new payment method in 2021, allowing the purchase of gift cards using cryptocurrencies, making it easy for any organization to buy the gift.
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Market Segments:
By Type:
Practical Swag Gifts
Food
eGift Card
Personalized Clothing Item
Airfare or Concert Tickets
By Application:
Clients
Employees
Key Industry:
- Trend Analysis: Identify historical and future trends through time-series analysis.
- SWOT Analysis: Evaluate the strengths, weaknesses, opportunities, and threats within the market.
- Porter’s Five Forces Analysis: Analyze the competitive environment by assessing factors like supplier power, buyer power, competition intensity, threat of new entrants, and threat of substitutes.
- Customer Persona Analysis: Define different consumer segments to understand motivations, demographics, and behaviors.
- Benchmarking: Compare data with industry standards and competitors to understand market positioning.
Regional Analysis:
North America is projected to lead the corporate gifts market, driven by strong demand from companies and the widespread appeal of gifting traditions. The count of industries in North America is increasing because of technological advancements. As per the SBA, over 31.7 million small enterprises existed in the United States as of March 2021.
Europe ranks as the second-leading region in the corporate gift market, driven by the rising trend to motivate remote employees, the expansion of e-commerce, and the popularity of digital gifting. In Europe, corporate gifting platforms are expanding, with significant investments in gift innovation.
The corporate gift market in the Asia Pacific is experiencing significant growth due to a large population and the emergence of new business sectors. For example, Statista reports that in 2020, Australia had 236 thousand newly registered businesses.
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