Price sensitivity, gift preferences and industry demands – SGS digs deep to uncover Singapore’s gift buying trends
Earlier this year, the Singapore Gifts Show (SGS) surveyed professionals from various fields such as marketing, corporate communications, administrative, training and even C-level executives to find out what the current corporate gift buying trends are. Respondents were asked about the nature of their usual orders, the types of gifts they look for and what influences their buying.
While some of the results will assure buyers that they are not alone when facing certain challenges such as budget cuts, other results reveal some new and possibly, upcoming trends in the industry. Read on to find out more!
When size is not what matters
At a time when the approaching Lunar New Year meant sending business partners and clients pineapple tarts, abalone, bak kwa and branded red packets, the larger the hamper, the better. However, that may no longer be the truth for corporate gift buyers according to the recent survey conducted by the SGS.
Size was the least important criteria for buyers while price was the obvious deal breaker when it comes to purchasing corporate gifts. This comes as no surprise as many gift suppliers had reported that they were seeing smaller orders for Chinese New Year hampers due to budget cuts. But aside from checking price tags, many buyers are also leaning towards products that have practical use and exhibit a certain standard of quality.
Even as companies tighten their purse strings, intention to purchase gifts during special occasions and celebrations is remains strong. Occasional gifts ranked among the top 3 corporate gift types buyers usually look for – proving that most companies still deem it important to build and strengthen rapport with partners and clients in seasons of celebrations.
Battle between techie devices and classic marketing items
In this digital day and age, trendy gadgets have gained popularity among corporate gift buyers. Even suppliers and manufacturers have started to innovate and produce corporate gifts of technological nature. Despite interest for electronic devices, the classic marketing segment still retains some of its popularity too. Marketers admit that desk top items and writing instruments remain one of the top choices especially with the availability of design and functionality options that serve as significant points of differentiation.
Gifts by social enterprises in high demand
SGS also notes the rise of the social enterprise in Singapore and the demand for products with a cause. As much as 66.7% of buyers say they are more likely to purchase products that are committed to a social purpose.
“With more consumers becoming more conscious of social issues, organisations are also stepping up to play a greater role in society. Now, it is as simple as showing support through purchasing products from social enterprises that they can relate to,” said Mr Khong Kwok Wai, PBM (Board of Director of SIP).
Social Innovation Park Ltd (SIP) has been a partner of SGS for over 6 years. The not-for-profit organisation incubates social entrepreneurs worldwide in a bid to bring positive innovations to lives and societies. Pop and Talent Hub (PaTH), an initiative of SIP, is Singapore’s first and largest social enterprise talent development platform that champions social entrepreneurship via the arts by developing creative PaTH talents from traditionally marginalized groups.
Buyers want to stay informed
Results from the survey also indicated that there is demand for buyers to have easy and ready access to information about products and promotional updates.
“Buyers indicate that they need to be kept informed of new ideas and innovations which will drive the impression the gifts seek to create. This will help them engage their market effectively on multiple levels.” commented Mr Ooi Peng Ee, General Manager of TTG.
Mr Ooi hopes that the SGS newsletter, which launched in January, will be one such source of information buyers can go to when they need creative and new ideas for products or new suppliers.
Gifts Association Singapore, a partner of the Singapore Gifts Show 2016, also provides helpful product information for potential corporate gift buyers. The website features a product catalog of close to 2,000 items from 100 suppliers including their contact details so getting in touch is as simple as a few clicks.
5 Questions with Twins Office Supplies Pte Ltd
Twins Office Supplies is one of the leading marketing companies in Singapore with access to our own factory located in China.
We have all kinds of souvenirs, branded business gifts, promotional gifts, event gifts, festival gifts and customised gifts for end user clients. We believe in being creative in this industry and in fact, in 2014, we’ve created more than 20 types of new products in the market not yet seen.
Our service itself is unique - we are able to customise every gift according to our customers’ branding requirements. This is unlike the standard products that most corporate gifts company offers.
Eco-friendly items and products which can increase efficiency in our work and lifestyle are gaining popularity.
A majority of customers expect cheap products. However, what they do not realise is that quality, practicality and innovation is what creates brand awareness and even build customer loyalty.
Most of our products are highly customised to each customer’s needs and we always try inject creativity that surprise our customers. Every gift we create is memorable and means alot to Twins.
Singapore Gifts Show 2016 Jun 29 - 01 Jul, Copyright & copy; 2016 TTG Asia Media
1 Science Park Road #04-07 The Capricorn @ Science Park II Singapore 117528 singaporegiftsshow@ttgasia.com