Key Take aways from the report
HYDERABAD, India, Nov. 2, 2021 /PRNewswire/ — eYantra Industries, the largest B2B merchandising and corporate gifting company in India having a turnover of 150cr and $7.5 million in funding 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 INR 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. 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 as the highest grossing categories. “Corporate Gifting patterns are changing rapidly. As the leader in the B2B merchandising and corporate gifting space, we observed a sudden uptick in customized and digitized gifting which drew our interest to understand the trends of this industry in the current times. With actionable metrics to unlock the digital growth code for B2B merchandising in India, this report provided us a comprehensive understanding of the needs of the next-gen workforce. Given our understanding of the present day workforce which is increasingly becoming digitized, it is safe to say that trends like digital gift cards, bulk merchandising, joining kits are here to stay as a significant chunk of the work force is catching on to such trends,” stated Archana Purohit, CEO of eYantra. 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. Archana Purohit further added, “Revamping gifting strategies is one of the ways in which employers of today’s world can contribute to low attrition rate. Our B2B Merchandising and Corporate Gifting Trends 2021 explores the preferences and practices of those who drive organizational growth and how companies can turn them into the most enthusiastic and valuable resource. Our study states that 35.7% of the workforce today feels valued and appreciated when they receive corporate gifts. Moreover, tailor-made brand merchandise makes employees feel valued, inspires them to work more, and stay loyal to the brand. On the other hand, 49% of business owners feel that the gifts need not be tangible, and they are fine with receiving gifts digitally.” About eYantra eYantra Industries, established in 2001, stands as the largest B2B merchandising and corporate gifting company in India. With a proven record of creating meaningful corporate gifting experiences for over 1000+ organizations, it has been the pioneer in bringing in innovation and organizing the fragmented B2B merchandising market in India. eYantra Industries believes in curating a 360° brand experience that is not restricted to just corporate gifting, but focused towards creating engagement and brand building. About eYantra Media eYantra Media, erstwhile Digital Ozone, was acquired by eYantra Industries in 2021. Pioneering in building a B2B2C growth marketing ecosystem, eYantra Media delivers data and tech-driven marketing services to accelerate business growth. From purpose to product, brand to experience, customers to operations, eYantra Media aims to bring the insight, rigor and expertise needed to uncover transformative opportunities. (Disclaimer: The above press release comes to you under an arrangement with PR Newswire India and this publication takes no editorial responsibility for the same.) |