The Untapped Jewelry Business of
CorporateGifting

JANUARY 14 / NAMAN AJMERA

Corporate culture has been settling in across the world. India is not an exception. Several MNCs and domestic conglomerates have brought a structured corporate and professional growth to the country and its working culture.

Competition is on a rise like never before. Keeping your employees loyal to the company is a task that requires a little empathy, and a lot of incentives. Personalized dinners and bonuses aren’t enough in today’s world of ever-increasing competition.

Corporate gifting is not new. It has been steadily rising in the business world. The attrition rate across the industries is going over the top and the HR departments are always looking to get more creative and effective with retention strategies. Every good company would want to express gratitude to their employees and show them that they matter.

It also promotes a healthy amount of competition in the workforce that pushes them to give their best work in anticipation of getting a great reward in return.

Jewelry as a corporate gift

Generally, companies gifting policy depends on the hierarchy of their teams. Gifts generally include branded pens, notepads, backpacks and can go up to mobile phones, tabs and laptops. 
You don’t usually see jewelry given as a gift in these companies. At the max, you would see Swarovski jewelry doing the rounds. Fine jewelry such as diamond jewelry is also given, however at a small scale. Why  is this an untapped market? Because of the perception of the people towards fine jewelry. Everybody thinks jewelry is expensive.

For these reasons, companies are constantly looking for the right gift. Something that represents luxury, has a personal touch to it and most of all, is affordable. This is where jewelry comes into play. iPhones and luxury watches are great, but jewelry speaks deeper than that. It may be considered to be one of the best corporate gifts to give for many reasons. 

Enduring Gifts, Durable Relations

Durability plays a key role in corporate gifting as there is no point in giving a gift that won’t last long. Jewelry isn’t something that will simply wear out easily. It is considered to be a sign of endurance and Zlongevity, holds emotional value and that is a great message to convey with a corporate gift.

Values of a Company 

A gift that is valuable will only work wonders for the company. A valuable gift given to someone shows to them that they are valuable to the organization. Jewelry conveys this off clearly to anybody who receives it as a gift due to its perception.

Exclusive and Memorable Treatment

The memorable factor of a gift heavily depends on how exclusive the gift is. Corporate gifts are usually given during certain milestone events or community occasions. In order for them to be remembered fondly, it’s crucial for the organization to add its personal touch to the gift. All of this is very much possible with the flexible design abilities that come with jewelry. A set of jewelry designs can be created that make the organization stand out from the rest and stay fresh in the minds of those who receive the gift. 

Spoil of Choices

The versatility with jewelry provides a spoil of choices. Jewelry can be gifted in various forms, be it in the form of a chain, bracelet, ring, pendant, gem-studded cuff links and more. Designs can be crafted in a manner that is personal to the organization and the relationship that it has with the person the gift is being given to. Customization with jewelry has immense possibilities that make the brand and the occasion something special for those who receive the gift.

How to get started – Connect!

So even though on jewelry stands as a great corporate gift, it’s still a new concept and has to be pitched to clients who will have their preconceived thoughts such as jewelry being expensive, difficulty in general customization etc. 

The first step is to connect with HR heads about this interesting step that they could implement in their business. This can be done in various ways such as attending social and business events, sending a direct email, dropping your business card etc. Through your peers, you are most likely bound to scout for a few leads and setup a meeting.

The best way to approach this, however, is by directly connecting with relevant prospects on LinkedIn. The platform is the ultimate hub for easy access to corporate and business connections. Instead of getting in touch via email, here you get in touch with the person in charge; from an employee to the CEO. Not only is the platform quick and efficient, it is also professionally personal. It provides a balance like no other platform in today’s digital age.

Once a connection is formed with an interested client, the next step is to ease the concept into their minds. They will need help in figuring out the ideal budget that should be spent on this, how the customization process works, the balance between personal touch and partiality in terms of customized jewelry and so on. You might even have to advise the business on how and on what basis they can form their incentive plan – for performance rewarding, special occasions, jubilees and so on.

Jewelry as a form of gift during auspicious moments has existed in the society for decades. To implement it in the corporate space allows a form of bonding to take place within the company that will only lead to a shared sense of success and respect for everyone working in the organization. It’s a sign of value and care that no gift can convey as well as a piece of jewelry.  

Look out for Part 2 of this blog for implementing Corporate Gifting strategy for your Jewelry Business.