Gifting one's way to business potential
Market for presents, comprising promotional items, giveaways and welfare products, thrives as it enhances consumer relations, boosts purchases and fosters employee-employer ties
Emotional appeal
The giftware industry in China encompasses a wide array of consumer products, spanning everyday items like home decor, drink-ware, and stationery to more luxurious offerings such as timepieces, jewelry, silverware and artworks.
"Everything can be a gift, as long as it is imbued with emotional significance," said Helen Shen, vice-president of RX Huabo. The Shenzhen, Guangdong province-based company holds 13 gift exhibitions in China annually, covering more than 3 million buyers and 10,000 suppliers.
"With the continual improvement of living standards in China, there's seemingly no shortage of options. However, selecting the right gift requires insight and a deep understanding of people's lives," Shen said.
During the three major traditional Chinese festivals — the Spring Festival, the Mid-Autumn Festival and the Dragon Boat Festival — large enterprises or organizations also provide food, groceries or home appliances to strengthen their relationships with employees, Shen said.
Compared to conventional retail channels, the gifts sector, with its emphasis on added value and personalized services, often yields higher profits for producers, she said.
For instance, leading food and snack companies have identified new growth opportunities within the gifts sector.
The white paper by RX Huabo and Kantar indicates thriving new categories, including pet-related products and innovations inspired by traditional Chinese culture, small home appliances and digital electronic devices.
During the China (Shenzhen) International Gifts and Home Products Fair in April, a dedicated hall showcases "Created in China" gift products, highlighting innovations from Chinese designers.
Among the exhibitors at the China Beijing International Gifts, Premium & Houseware Exhibition in March, a set of eye-catching colorful dragon-shaped fridge magnets designed by a Beijing-based industrial design studio became a hit.
These magnets, featuring transparent materials and components that could be reversed and twisted to look like a dragon floating on the surface, captured the attention of many buyers.
