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Business Information By Mast Directory: Corporate Gifts Business - An Overview

Exchanging gifts is a common practice be it on birthdays, festivals, weddings or any other special occasion. This practice is followed in the corporate world as well. Be it a promotion, new job or an occasion to celebrate achievement. On any such occasion it is common practice across the world to exchange gifts. Sometimes we give gifts just to reiterate our commitment to clients that we are pleased to be part of the business and to express our interest in future alliances.

Corporate gifts are not limited to co-workers within the office realms but corporate gifts are also sent to those who will park your car, take you up & down the office elevator, clean your office so that either your company or you stand-out in the minds of the people who matter to your business for years to come. There are different gifts available for shopping in retail stores that are meant to fit into any budget you might have. The meaning of corporate gifts has changed immensely of the past decade and a half. Today corporate gifts are not simply limited to a chocolate box draped in an exclusive titanium box or gift vouchers redeemable at exclusive retail shopping gift store.

Companies are today willing to do that extra bit to keep their highly skilled or talent pool with the organization. Thus you will find that an insurance executive who has crossed a certain insurance premium collection mark for a X number months will be entitled to an all holiday expenses paid tour from the company. It is believed that such gestures not only motivate the employee but acts as way to relax and return to work with renewed vigor to achieve even better results.

Today the corporate gifts retail business is a multi-billion dollar industry. Corporate head-honchos will be entitled to gifts worth millions for driving company sales with accusations and mergers. Recently Citi Bank US CEO Vikram Pandit’s office was given a multi-million dollar makeover as part of his perks and incentives. This is widely seen as a corporate gift that companies shower over the top bosses.

Corporate gifts retail or wholesale business is one that you can start with your own resources and with a simple starting you can work it up into a major business setup. If you are a person with prior knowledge and skills to create art and craft material then this can be quite a lucrative business option. You can hire 2-3 people to start this business and then market your creation by presenting some of your best creations to people associated with corporate gifts procurement. If impressive by the product quality, relevance and price you could soon receive your first and be in business. Also offer your products with online shopping over internet where you can find customers from all over the world.

Alternatively if you would just like to concentrate on creating your corporate gifts range you can simply contact people already in this retail business. If your range is attractive you can offer them commission to sell your products. So the next time they make a visit to their clients they would also show your products and hopefully bag an order exclusively for your range.

You can also replicate such a business model for your corporate gifts business. If you happen to know makers of good gift products then you can take such products and offer to sell them to your friends in the corporate segment. If you feel that your products can do better with a brand identity then name your products attractively or source products from a reliable manufacturer under a registered brand name that you will own exclusively. The benefit with such a business model is that you will be able to have gift products in wide variety. One aspect of this business model is that you will have to go shopping for such products and identify such products that you believe will appeal to your corporate clients.

There companies who do corporate gifts shopping in retail for a variety of products ranging from chocolate boxes to showpiece, candles, wooden wall & mantel clocks, leather bags, laptop bags and champagne & wine and the list is endless. Thus you will have to source products from different quarters and maintain a range for different budget sizes.

Carrying forward from the same business model you can setup a business gifts website. You can list all the products that you make under your own brand name or other products with which you have exclusives sales tie up. There are many people who would do corporate gifts shopping online today. But in today’s recession hit scenario what most corporate entities are look for is value for money deals. If your products are high on quality yet people do not have to shell out too much to place bulk orders then there are bight chances that in the short term only your website could generate a profit.

The options mentioned regarding the corporate gifts business are simple hints so that you have an overview of the business prospects and opportunities.

Retail Shopping > Gifts > Corporate Gifts

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