S. P. MANDALI’S PRIN L. N.

WELINGKAR INSTITUTE OF MANAGEMENT

DEVELOPMENT & RESEARCH (PGDM)

SUMMER INTERNSHIP PROJECT (SIP) REPORT

AT

WELSPUN GLOBAL BRANDS LTD.

ON

Market Research on Corporate Gifting and Trade Schemes

BY

Mr. Shashwat Pandey

PGDM 2023 – 25: TRIMESTER IV

SPECIALISATION: E-Biz MARKETING

ROLL NO: 55

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 Acknowledgement

I would like to express my heartfelt gratitude to all those who have been instrumental in making
this SIP experience both enriching and rewarding.

To my industry mentor Mr. Shriramachandra Soratur (Assistant General Manager - Institutions),

thank you for your unwavering support, guidance, and mentorship throughout this internship
journey. Your expertise, encouragement, and constructive feedback have been invaluable in
helping me navigate the complexities of the industry and grow both personally and
professionally.

To my industry project buddy Veerendra Singh, working with you has been a pleasure. Your
collaboration and teamwork made every task enjoyable, and your willingness to share knowledge
and ideas significantly contributed to the project's success.

I extend my sincere appreciation to my college Welingkar Institute of Management, for providing

me with the opportunity to undertake this summer internship.

To my college guide Prof. Bijith Marakarkandy, thank you for your support and valuable insights
throughout this internship.

Lastly, I want to express my commitment to utilizing the skills and knowledge I have gained
during this internship in my future endeavors. The hands-on experience, technical expertise, and
professional development I acquired will undoubtedly be instrumental in my career growth.

Thank You

Shashwat Pandey

E-Biz 55 (Marketing)

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 Table of Contents
Sr Page
Topic
No. No

I Acknowledgement iii

II Table of Content iv

III Market Overview: Corporate Gifting and Trade Schemes v

IV Competitor Analysis vii

V Corporate Gifting Strategies viii

VI SWOT Analysis x

VII Conclusion xi

VIII Recommendations xiii

IX References xvi

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 Market Overview: Corporate Gifting and Trade Schemes

Industry Insights
1. High ROI:
o Corporate gifting can yield a 10x return on investment (ROI), particularly in the
B2B sector. A study by PPAI found that 79% of recipients are more likely to do
business with a company after receiving a branded gift .
2. Client Retention and Profit Increase:
o According to Adobe ABDE's survey, corporate gifts can increase client retention
by 5% and boost business profits by 25-95% .
3. Market Size and Growth:
o The corporate gifting industry was valued at $242 billion annually in 2021 and is
expected to grow at a compound annual growth rate (CAGR) of 13.2% .

Corporate Gifting in India

1. Budget and Spending:
o 67% of respondents have a well-defined corporate gifting budget.
o Over 72% of gifts analyzed are within the price range of INR 1000 – INR 5000 .

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 o Popular items in this range include kitchen sets, stainless cookers, high-end laptop
backpacks, and gift baskets.

2. Buying Preferences:
o Only 29% of purchasers buy from online platforms, while 68% of sellers
advertise on platforms like Amazon and Flipkart.

3. Gift Preferences:
o 73% of individuals believe that originality and packaging are highly significant .
o 60% prefer purchasing corporate gifts made in India, often handmade and
customizable .
o 8 out of 10 individuals favor environmentally-friendly gifts .
o 80% prefer buying digital gift cards .

4. Market Growth:
o Corporate gifting in India is growing at over 200% per annum .
o By 2025, the market is expected to generate around USD 159 million in revenue .

Key Trends in Corporate Gifting in India

1. Wellness Gifts:
o Post-pandemic, there is a shift towards wellness and immunity-boosting products
like teas, customized masks, and ayurvedic items .
2. Customized Gifts:
o Personalization is highly valued, especially with many employees working from
home .
3. Value:
o Gifts that provide real value and are not just token items are becoming more
important .

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Future Outlook
 By 2024, the Indian online gifting business is expected to be worth $84 billion, driven by
the ease of long-distance gifting and the increase in remote work .

Competitor Analysis

Market Leaders
1. Large Retailers:
o Reliance Retail: Offers personalized gift cards, curated hampers, and merchandise
through Reliance Gifts.
o Aditya Birla Fashion and Retail: Provides gifting solutions through brands like
Pantaloons and Van Heusen.
o Trent Ltd.: Offers corporate gifting through brands like Westside and ZARA.
2. Gift Card Providers:
o Sodexo: Offers meal cards, gift cards, and vouchers.
o Zeta (formerly Timescard): Provides a prepaid card platform for corporate gifting.
o Amazon Pay: Offers various gift cards redeemable on Amazon.in and at partner
stores.
3. Specialized Corporate Gifting Companies:
o Giftease: Offers personalized gifts, gourmet food hampers, and experiences.
o Ferns N Petals: Provides flowers, gifts, and cakes customized for corporate
gifting.
o IGP (Indagifts): Offers personalized gifts and hampers.

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Emerging Startups
1. Woohoo Works: Connects businesses with vendors for corporate gifting solutions.
2. Winspire: Curated marketplace of corporate gifting options.
3. Equittee: Platform for rewarding employees with equity grants.
4. Howzat: Provides experience-based corporate gifting solutions.
5. Think Tank Gifting: Offers personalized and eco-friendly gifts.
6. Giftmojo: Digital gifting platform for personalized gifts and e-gift cards.
7. Vyomo: Provides gifting solutions for employee recognition and rewards.
8. GoTheDistance: Employee experience platform incorporating gifting and rewards.

Corporate Gifting Strategies

1. Booking Meetings with Gifting:

o Gifts can create a pattern interrupt, making it easier to book meetings.
o Examples: Locked bottle trick, knowledge-centric gifts like books, coffee or lunch
delivery for virtual meetings.

2. Retaining Customers:
o Retention strategies include offering discounts, congratulatory emails, and
recognizing top-performing customers.
o Surprises and useful gifts can foster brand loyalty and strengthen relationships.

3. Connecting Gifts to Messages:

o Stories and tangible items can enhance the impact of your brand message.
o Integrating offline and online communication can achieve higher response rates.

4. Automating Gifting:
o Automating the gifting process can save time and enable personalization at scale.

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Choosing the Right Gift
 Relevance: Ensure the gift is relevant to the industry and recipient's needs.
 Quality: Invest in high-quality presents.
 Branding: Subtle and classy branding is more effective.
 Personalization: Adds a special touch.
 Practicality: Useful gifts are more appreciated.
 Sustainability: Eco-friendly gifts are valued.

When to Gift
 Holidays: Traditional gifting times like Christmas, Diwali, and New Year.
 Anniversaries and Birthdays: Celebrate important dates in partnerships.
 Employee Reward and Recognition: Recognize top achievers.
 Joining: Welcome new employees with thoughtful gifts.

4Ps of Marketing in Corporate Gifting

Product
 Premium and luxurious items like bathrobes, bedsheets, and towels.
 Curated gift sets for different budgets.
 Personalization options.
 Sustainability with eco-friendly materials.
Price
 Competitive pricing for bulk orders.
 Tiered pricing based on quantity.

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  Volume discounts.
Place
 Direct sales to corporates with a dedicated website section.
 Tie-ups with other gifting companies.
 User-friendly e-commerce platform for corporate gifting.
Promotions
 Corporate gifting brochure.
 Digital marketing and online campaigns.
 Participation in trade shows.
 Case studies highlighting successful campaigns.
 Partnerships with influencers and industry experts.
SWOT Analysis

Strengths
1. Brand Recognition: High-quality textiles foster trust and confidence.
2. Product Portfolio: Variety of products and customization options.
3. Quality and Durability: Ensures long-lasting positive impressions.
Weaknesses
1. Pricing: Higher price points may require emphasis on quality and durability.
2. Limited Awareness: Need for targeted marketing campaigns.
3. Discount Strategy: Competitive discount structure needed.
Opportunities
1. Growing Market: Capitalizing on the expanding corporate gifting market in India.
2. Festivals and Occasions: Special hampers for Indian festivals.
3. Sustainability: Leveraging eco-friendly product lines.
Threats
1. Competition: Need to stay updated on competitor strategies.
2. Price Wars: Focus on value propositions to mitigate impact.

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 3. Economic Downturn: Offering a range of products at different price points.

Key Differentiators for Corporate Gifting Companies

1. Product Variety: Wide range of gifts.
2. Customization: Personalization options.
3. Delivery and Logistics: Fast and reliable delivery.
4. User-Friendliness: Easy ordering process.
5. Pricing and Discounts: Competitive pricing.
6. Customer Support: Dedicated and responsive support team

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 Conclusion

The corporate gifting market is experiencing robust growth and holds immense potential for
businesses to enhance their relationships with clients, employees, and partners. According to
LinkedIn, the corporate gifting industry can yield a 10x return on investment, especially in the
B2B sector. A 2019 study by the Promotional Products Association International (PPAI) found
that 79% of people are more likely to do business with a company after receiving a branded gift.
Additionally, a survey by Adobe ABDE reveals that corporate gifts can increase client retention
by 5% and enhance business profits by 25-95%.

Globally, corporate gifting is a $242 billion industry and is expected to grow at a compound
annual growth rate of 13.2%, as reported by Coresight Research and Gitnux. The Indian
corporate gifting market is also booming, with trends indicating a significant increase in demand
for well-defined corporate gifting budgets, originality in packaging, and locally made,
environmentally-friendly gifts. The market is growing at over 200% per annum, with projections
estimating the industry will generate around USD 159 million in revenue by 2025.

The competitive landscape in India is diverse, with market leaders like Reliance Retail, Aditya
Birla Fashion and Retail, Trent Ltd., and Cloudtail (Amazon) offering extensive corporate gifting
solutions. Additionally, specialized corporate gifting companies such as Giftease, Ferns N Petals,
and IGP provide curated selections tailored to corporate needs. Emerging startups like Woohoo
Works, Winspire, and Equittee are also making significant strides by offering innovative
platforms for corporate gifting and employee rewards.

To stand out in this competitive market, businesses must focus on several key aspects. Offering a
variety of high-quality and luxurious products, providing customization options, and
emphasizing sustainability are crucial. Competitive pricing, volume discounts, and efficient
delivery logistics further enhance the appeal of corporate gifting solutions. Additionally,

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maintaining excellent customer support and creating user-friendly platforms are essential for
building lasting relationships with corporate clients.

Implementing effective corporate gifting strategies can elevate sales and strengthen business
relationships. Best practices include using gifts to book meetings, retain customers, and connect
gifts to the value a company delivers. Automating the gifting process can save time and resources
while ensuring personalization at scale. Thoughtful and well-chosen gifts can leave a lasting
impression, enhance brand loyalty, and foster mutually beneficial relationships.

Welspun, a well-established brand with a reputation for high-quality textiles, can leverage its
strengths in the corporate gifting market. By offering a diverse range of products, focusing on
customization and sustainability, and implementing strategic marketing and promotional
campaigns, Welspun can capitalize on the growing demand for corporate gifts. Addressing
potential weaknesses such as pricing and limited awareness through targeted strategies can
further strengthen its market position.

In conclusion, corporate gifting is a powerful tool for businesses to enhance their reputation,
express appreciation, and build stronger connections with clients, employees, and partners. With
the market poised for continued growth, companies that invest in thoughtful, high-quality, and
personalized gifting solutions will be well-positioned to reap significant benefits. By
understanding market trends, leveraging strengths, and addressing challenges, businesses can
effectively utilize corporate gifting to achieve their strategic goals and foster long-term success.

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 Recommendations

Based on the analysis and insights from the corporate gifting market, here are strategic
recommendations for Welspun to effectively penetrate and capitalize on this growing sector:

1. Diversify Product Offerings

Expand Product Range: Introduce a wider variety of products tailored for corporate gifting,
including high-end textiles, home decor, wellness products, and eco-friendly items.

Customization Options: Offer extensive customization options such as monogramming,

personalized messages, and branded packaging to cater to the specific needs of corporate clients.

2. Focus on Sustainability

Eco-Friendly Products: Develop and promote a line of environmentally-friendly products made

from sustainable materials, which can appeal to the increasing demand for green and ethical
gifting.

Sustainable Packaging: Use recyclable and biodegradable packaging materials to enhance the
appeal of corporate gifts while aligning with global sustainability trends.

3. Strengthen Online Presence

E-Commerce Platform: Enhance the e-commerce platform to provide a seamless and user-
friendly experience for corporate clients. Features such as bulk ordering, personalized
recommendations, and easy navigation can significantly improve customer satisfaction.

Digital Marketing: Invest in digital marketing strategies, including search engine optimization
(SEO), social media marketing, and email campaigns, to increase brand visibility and attract
corporate clients.

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4. Competitive Pricing and Offers

Volume Discounts: Offer competitive pricing and attractive volume discounts to entice large
corporate clients and incentivize bulk purchases.

Loyalty Programs: Implement loyalty programs for repeat corporate clients, offering exclusive
deals, early access to new products, and other incentives to build long-term relationships.

5. Efficient Logistics and Delivery

Streamlined Logistics: Invest in efficient logistics and delivery systems to ensure timely and
reliable delivery of corporate gifts, especially during peak seasons.

Tracking and Support: Provide real-time tracking and excellent customer support to address any
issues promptly and maintain high service standards.

6. Targeted Marketing and Promotions

Corporate Partnerships: Forge partnerships with large corporations, business associations, and
event organizers to promote Welspun’s corporate gifting solutions.

Seasonal Campaigns: Launch targeted marketing campaigns during festive seasons, corporate
events, and other significant occasions to boost sales and brand awareness.

7. Quality Assurance and Innovation

Maintain High Standards: Ensure that all products meet stringent quality standards to uphold
Welspun’s reputation for excellence.

Innovative Designs: Continuously innovate with new designs and product ideas to stay ahead of
market trends and offer unique gifting solutions.

8. Customer Engagement and Feedback

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Engagement Initiatives: Create initiatives to engage with corporate clients, such as feedback
surveys, focus groups, and personalized follow-ups to understand their needs and preferences
better.

Client Testimonials: Leverage positive client testimonials and case studies in marketing materials
to build credibility and attract new clients.

9. Corporate Social Responsibility (CSR)

CSR Initiatives: Highlight Welspun’s CSR initiatives and how the corporate gifts contribute to
social and environmental causes, which can enhance the company’s appeal to socially conscious
businesses.

10. Training and Development

Sales Training: Provide comprehensive training for the sales team on the unique aspects of
corporate gifting, including product knowledge, customer relationship management, and
negotiation skills.

Innovation Workshops: Conduct regular workshops and brainstorming sessions to encourage

innovation and the development of new corporate gifting ideas.

By implementing these recommendations, Welspun can effectively position itself as a leading

player in the corporate gifting market, leveraging its strengths and addressing market demands to
achieve sustained growth and success.

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References

 https://www.linkedin.com/pulse/how-promote-your-business-through-corporate-enhpc/
 https://www.forbes.com/sites/patriciaduchene/2020/07/01/4-corporate-gifting-strategies-
that-will-elevate-your-sales/?sh=23f16aae4e25
 https://graphics-pro.com/feature/new-trends-corporate-gifting-profits/
 https://www.forbes.com/sites/katevitasek/2023/11/16/5-reasons-companies-should-give-
employees-and-clients-holiday-gifts/?sh=3fa2f051214c
 https://www.offineeds.com/corporate-gifting-statistics/
 https://www.printstop.co.in/blog/top-corporate-gifting-companies-in-india
 https://www.tradeindia.com/blog/most-popular-corporate-gifting-companies-in-india/
 https://yousucceedim.medium.com/top-corporate-gifting-companies-in-india-
851b881ac5f4
 https://blog.xoxoday.com/gift/corporate-gifting-companies/
 https://enterprise-services.siliconindia.com/ranking/10-most-promising-corporate-gifting-
companies-2022-rid-1620.html#google_vignette
 https://www.brandedcorporategift.com/about-us

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