eYantra Industries, the largest B2B merchandising and corporate gifting company in India has today released their first of its kind B2B Merchandising and Corporate Gifting Trends Report, 2021.Nearly 3600 employees, between the age bracket of 25-30 participated in this survey. As a part of the survey, CEOs, HRs, Owners and admins of different organizations spread over various sectors including BFSI, Fintech, IT and Healthcare amongst others were interviewed majorly from metros and tier II cities. The report reveals that India's B2B merchandising industry is set to grow by 3 times to touch Rs 90 lakh crore by 2030.
While the B2B merchandising market is poised for continued growth, organizations are challenged with motivating employees and channel partners. To retain the next-generation talent, organizations need to step up with a more personalized workplace recognition experience. It’s no secret that COVID-19 has taken a huge toll on the workforce in these last months. eYantra Media’s survey concluded that 74% of companies expect to have at least half of their workforce to continue working remotely even after the pandemic ends.
Key Take aways from the report
· A percentage increase from 25% to 27% has been witnessed in the gifting sector in the post Covid times
· Personalized and digitized gifting along with brand merchandising are trending in the corporate gifting sector with 83.7% employees preferringpersonalized gifting and 60.2% employees extensively use their brand merchandise extensively at work
· Increasing digitization of workforce have coerced 60% brands to shift to digital stores and close physical stores
· Digital gifting has been increasingly seen in organizations with around 70% organizations including 38% traditional businesses who have already transformed to a digitized gifting pattern |
To motivate a disengaged workforce, businesses are now looking for new ways to boost their morale. Corporate Gifting is on the rise as 50%of businesses say they plan to increase the frequency of their gift giving post COVID-19.Hence, most of the top corporates and blue chip companies, have deployed employee engagement funds, outdoor events, etc towards brand merchandising and employee gifting. With WFH, safety and fitness are being seen the highest grossing categories.
Personalized Gifting is the need for next Generation
The study found that the new generation workforce eagerly awaits personalized gifts from their employers. Around 83.7% of employees prefer a personalized gift, curated as per their needs and interests, where 48% of employers would like to cater to it with custom brand merchandise to maintain uniformity. The rise in personalized gifting at workplaces compels brands to switch to a uniform way of gifting with brand merchandise.
Brand merchandising is the key to the hearts of employees
eYantra Media’s study revealed that 56% employees and channel partners feel their employer should understand them like they understand their customers. However, only 39% felt their workplaces were fulfilling this expectation. At the heart of every loyal relationship is an emotional connection.
Digital Gifting is the ongoing trend among employees
With the boom in technology, the corporate workforce has shown a strong inclination towards digital gifting. That said, around 70% organizations including 38% traditional businesses have already transformed to a digitized gifting pattern. A digitized workplace contributes to an improved productivity, collaboration and enhanced employee experience, amongst others.
National, November 01, 2021
.JPG)
