According to Technopak, the total size of the Indian corporate and personal gifting market put together is about Rs 250,000 crore at present. Of this, the corporate gifting market in India is estimated to be Rs 12,000 crore and is growing at over 200% per annum. Industry insiders say that usually there is a rise in sales of corporate gifts during the festive season that include Durga Puja, Diwali, Christmas and New Year. Normally, these gifts include sweets, greetings cards, diaries, calendars and other items. However, this year, with every company trying to cut down their expenses because of the pandemic situation, the corporate gift market is going to be adversely affected.O Orders for festival packs have not yet been significantly received by the FMCG companies.
Qwikcilver, who is the leading gift card issuer in the country, has over 75% market share in the gift card segment. The growth of the gift card industry has been adversely impacted by the Covid-19 pandemic. However, it is expected to drive the demand for digital gift cards (e-gift cards) during Christmas and New Year.
A report by Business World states that Mukul Vashisht of RR Solution feels that the corporate gift sector should remain responsible and relevant to the pandemic-stricken society. His gifting solutions include paraphernalia like gloves, face masks, face shield, shoe covers, PPE kits and infrared thermometers.