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Web3 Corporate Gifting - The Best Gift of All

Author: Giftoin team

Date: 2022-Nov-10

The corporate gifting market is taking giant steps. A recent survey conducted by Coresight Research and GiftNow estimates that the corporate gifting market in the US will reach $258 billion by the end of this year. This constitutes 6.6% year-over-year growth, indicating acceleration in the US corporate gifting market. Based on the survey, it is estimated that the market will increase from $258 billion in 2022 to $312 billion in 2025, a 6.5% CAGR over a three-years period.

One of the reasons for the marked growth in corporate gifting is a shift in corporate gifting behavior. As a result of the Covid pandemic and shifts in employment models, corporations are presenting gifts not only to mark holidays but also employee appreciation/milestones (66%, increase from 64% in 2021) and existing client/partner appreciation (52%, up from 49% in 2021).

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Corporate gifting challenges

While organizations are demonstrating a more sophisticated understanding of how to use corporate gifting, respondents to the survey underlined challenges connected to the limited scope of gifts they can bestow as well as the flexibility and scalability of existing gifting programs. Nearly half of the corporations noted that they handle end-to-end corporate gifting internally without a gifting platform. Respondents who manage their own corporate gifting efforts described this issue as "very challenging."

The most problematic issues faced by these corporations were listed as follows:

Inability to purchase gifts from multiple brands/retailers (33%) Limited choice attributes such as color and size (32%) Managing gift inventory, storage and shipping (30%) Limited range of products (28%)

Web3 Gifts - The perfect solution for corporate gifting

Most corporations are aware of the growing popularity of gift cards. According to the survey, gift cards are expected to dominate gifting categories in the coming 12 months, including over the holiday season. Web3 gifting takes gift cards to a whole new level. It is an ideal solution for corporations interested in providing a wide range of exciting, innovative gifts to employees. The virtual gifts can be emailed to hundreds of employees as gift cards in under two minutes.

Web3 gifts cover a wide range of virtual products and NFTs such as crypto coin sets, artwork, collectible sport items, gaming accessories, fashion items, music and more. As the products are virtual, there are no inventory, storage or shipping problems. NFTs can be created, updated or purchased within minutes, in any size or color.

The NFTs or crypto coins are registered in the gift recipient’s name and are officially owned by them. As the item is registered on the blockchain, it is both secure and eternal, making the gift truly unforgettable.

Giftoin - The end-to-end gifting solution

The challenge of handling massive gifting is resolved when using the Giftoin gift processing platform. Giftoin handles gift processing from a to z. The advanced solution manages transactions, transfers, royalties and digital wallets seamlessly, and enables organizations to view and monitor all of the bestowed gifts and related activities. The assets are initially kept in secure wallets for the recipients on the Giftoin system, enabling them to transfer the items elsewhere if so desired.

Interested in hearing more about our seamless corporate gifting platform? Contact us today.

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