Tag: corporate gifting

StartupTalky presents Recap’24, a series of exclusive interviews where we connect with founders and industry leaders to reflect on their journey in 2024 and discuss their vision for the future.

The corporate gifting industry in India is gaining great popularity, with an increasing demand for unique, sustainable, and personalised solutions. A standout name in this space is Consortium Gifts, which has been redefining how businesses connect through thoughtful gifting since 1999.

In this edition of Recap’24, we spotlight Gaurav Bhagat, Managing Director and Founder of Consortium Gifts. From starting with a modest investment to building one of India’s leading corporate gifting companies, Bhagat shares insights into the brand’s journey, key milestones, and his vision for the future of corporate gifting.

StartupTalky: What inspired you to start Consortium Gifts in 1999, and how would you describe the company’s core services and offerings?

Mr. Bhagat: Back in 1999, it wasn’t inspiration—it was desperation. My family was facing a financial crisis, and I knew I had to act. Armed with just Rs. 10,000 drawn from a credit card and working out of my home with no staff, I set out to create a business that could make a difference. Fast forward 25 years, Consortium Gifts is now one of India’s leading gifting and promotional companies, serving industry giants like Microsoft, Amazon, Coca-Cola, and EY.

Our core services are centered on providing innovative, personalized gifting solutions tailored to the needs of global brands. Whether it’s creating memorable corporate giveaways, celebrating milestones, or enhancing employee engagement, our offerings are designed to build stronger connections. By blending sustainability, cutting-edge trends, and cultural relevance into our products, we’ve consistently delivered value that resonates across audiences.

StartupTalky: Your experience as a sales coach and Grant Cardone licensee is remarkable. How has it influenced your leadership style and the company’s growth strategy?

Mr. Bhagat: My journey as a sales coach and Grant Cardone licensee has profoundly shaped my leadership style and the company’s growth trajectory. Learning from one of the world’s top sales trainers taught me the power of 10X thinking—setting audacious goals and executing them with discipline and focus. This mindset has not only transformed how I lead but also how I inspire teams to embrace challenges and exceed expectations.

For Consortium Gifts, these lessons have translated into a bold growth strategy. For instance, we’ve leveraged data-driven insights to predict client needs, which has improved our client retention by 35% in the last three years. Moreover, Grant Cardone’s emphasis on scaling big has guided us in exploring untapped markets across Asia and beyond, contributing to our 20% year-on-year revenue growth.

What truly sets my leadership apart is a relentless focus on skill-building and adaptability. In today’s dynamic business landscape, 90% of leaders believe that agility is critical for sustained growth, and this has been at the core of how we operate. With every milestone, I’ve learned that leadership isn’t about being the smartest in the room; it’s about empowering others to achieve extraordinary results.

StartupTalky: With over 300 clients, including brands like BMW, Coca-Cola, and Deloitte, how does Consortium Gifts maintain high-quality and personalised services at scale?

Mr. Bhagat: With a client roster that includes BMW, Coca-Cola, and Deloitte, delivering high-quality and personalized services at scale requires a strategic mix of expertise, innovation, and collaboration. We achieve this by focusing on predictive client engagement—using data analytics to anticipate needs and create solutions proactively. For example, our AI-driven customization tools have increased order accuracy by 40%, ensuring each client receives precisely what aligns with their vision.

Leadership within IGC Global Promotions, a network of 41 top-tier gifting companies worldwide, gives us a unique advantage. Through this collaboration, we stay ahead of global trends and introduce products and ideas tailored to diverse cultural preferences. This approach has been pivotal in addressing the evolving expectations of corporate gifting in markets as varied as Europe, Asia, and the Americas.

To maintain quality, we also prioritize sustainability and innovation. In 2024, over 60% of corporations have shifted to eco-friendly gifting, and we’ve led this transformation by sourcing from ethical suppliers and introducing products like biodegradable tech accessories. Ultimately, our commitment to detail ensures that every gift reinforces the brand identity of our clients, making it memorable and meaningful.

StartupTalky: How do you determine which corporate gifting products will resonate with different industries and clients?

Mr. Bhagat: Determining the perfect corporate gifting solutions for different industries and clients is both an art and a science. Our consultative approach honed over 25 years, starts with asking the right questions—understanding our clients’ objectives, target audience, and brand ethos. This allows us to recommend products that aren’t just functional but leave a lasting impression. For instance, data shows that personalized gifts increase brand recall by 70%, and we’ve embedded personalization into nearly 80% of our offerings.

We also leverage industry-specific insights. For tech clients, innovative gadgets and sustainable tech accessories resonate, while in the luxury sector, premium leather goods and exclusive experiences are preferred. Staying ahead of market trends is essential; with the global corporate gifting market expected to hit $310 billion by the end of 2024, our team uses data analytics to predict trends and ensure relevance.

What truly sets us apart is the longevity of our relationships—some spanning over 20 years. This consistency reflects our ability to evolve with our clients’ needs and deliver solutions that amplify their investment.

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StartupTalky: How does Consortium Gifts customise its products to meet diverse client requirements, and what role does technology play in this process?

Mr. Bhagat: At Consortium Gifts, customization is driven by a deep understanding of client needs and the latest technological advancements. We use state-of-the-art techniques like direct-to-fabric printing and UV printing for hard goods, which allows us to deliver exceptional quality and vibrant designs that align perfectly with brand identities. This has helped us achieve a 40% faster turnaround time on large-scale orders, something that our clients deeply value.

Our commitment to innovation goes beyond traditional methods. We constantly scout global trade shows in the U.S. and Europe to stay ahead of emerging trends. Recently, we’ve integrated 3D printing and rapid prototyping, which enables us to quickly bring conceptual designs to life and test them before full-scale production. This technology has not only improved the speed and accuracy of our customizations but also increased client satisfaction, with 95% of our clients reporting higher engagement with our tailored products.

Ultimately, technology empowers us to offer highly personalized solutions at scale. By blending these innovations with a client-focused approach, we’re able to continuously meet the unique demands of our diverse clientele while ensuring exceptional quality and precision.

StartupTalky: As the sole South Asian member of IGC Global Promotions, how has this partnership strengthened your global presence?

Mr. Bhagat: Since joining IGC Global Promotions in 2017 and stepping into the role of chairman in 2024, Consortium Gifts has been able to enhance its global presence significantly. Being the only South Asian member of this prestigious network has opened doors to exclusive opportunities across 40+ countries. The monthly online collaborations and biannual in-person meetings with industry leaders and stakeholders allow us to not only stay ahead of the curve but actively shape the future of corporate gifting.

This global partnership has allowed us to tap into regional trends, customer preferences, and best practices from diverse markets, ensuring that we offer uniquely tailored solutions. As a result, we’ve expanded our reach into key international markets, with exports now accounting for 25% of our total business. The insights gained from such a vast network have been invaluable in refining our products and services, empowering us to cater to the diverse needs of global brands and maintain our competitive edge.

StartupTalky: What new trends and opportunities do you see for the corporate gifting industry in the next 2-3 years?

Mr. Bhagat: The corporate gifting industry is poised for exciting growth in the next 2-3 years, driven by evolving consumer preferences and technological advancements. One major trend is the explosive rise of print-on-demand services. As companies look to reduce inventory costs and streamline logistics, print-on-demand solutions are expected to grow by over 40% annually, allowing businesses to offer highly personalized, on-demand gifts without the risk of overproduction.

Sustainability will also be at the forefront, with eco-friendly products gaining significant traction. Items made from recycled steel, aluminum, and even fabric made from ocean waste are gaining popularity, driven by both consumer demand and corporate social responsibility goals. According to recent data, 78% of consumers prefer brands that prioritize sustainable products, which is prompting companies to invest in eco-conscious gifting options. We’re particularly excited about the potential of these materials to not only reduce waste but also deliver premium, high-quality products.

With the demand for customized, sustainable products at an all-time high, the corporate gifting sector is set to become even more dynamic, offering brands the chance to make a positive environmental impact while strengthening customer and employee relationships.

StartupTalky: What are the different strategies you use for marketing? Tell us about any growth hack that you pulled off.

Mr. Bhagat: At Consortium Gifts, we adopt a 360-degree marketing approach, blending both offline and digital strategies to reach and engage our audience effectively. On the offline front, events and sponsorships have played a pivotal role in strengthening our brand presence. Whether it’s participating in major industry events or hosting exclusive gatherings, these interactions allow us to directly connect with our clients and prospects, building trust and long-lasting relationships.

In the digital space, we leverage every channel available. From social media campaigns and live webinars to interactive contests and podcasts, we ensure our brand is omnipresent. For instance, our recent podcast series saw a 30% increase in listener engagement, reflecting the growing demand for valuable, insightful content. Moreover, we’re heavily invested in public relations—something we realized years ago is just as important as the product itself. The idea is simple: you could have the best product in the market, but if you’re not well-known, it doesn’t matter.

As for a growth hack, one of our most successful strategies was an exclusive, time-limited offer for our corporate clients during key gifting seasons, combined with personalized consultations. This not only generated a 25% increase in sales within two weeks but also strengthened customer loyalty by providing tailored solutions. The key takeaway? Combining personalization with urgency can drive significant results in a short time.

We’re all-in on marketing because we understand that visibility and meaningful connections are the foundation of growth.

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StartupTalky: What is your approach to building and maintaining strong partnerships with your suppliers and shipping partners like FedEx, UPS, and DHL?

Mr. Bhagat: We treat our suppliers and shipping partners like an extension of our team. The logistics landscape, especially with key partners like FedEx, UPS, and DHL, is critical to delivering on our promises to clients. One of the cornerstones of our approach is building long-term, transparent relationships based on reliability, performance, and shared goals. We ensure our partners are involved from the beginning, collaborating closely to align on everything from seasonal demand spikes to customized delivery requirements.

In recent years, we’ve focused on developing joint strategies to address global shipping complexities, particularly with the rise of e-commerce and international expansion. For instance, our seamless integration with DHL’s global network has allowed us to improve international delivery timelines by 15% in 2024, making us more responsive to our global clients. Additionally, we’ve established contingency plans with UPS to mitigate risks during peak seasons, ensuring that client orders are never delayed, no matter the challenges.

What sets us apart is our focus on data-driven decisions. By utilizing advanced analytics and real-time tracking, we ensure our partners are always equipped to meet the dynamic needs of our business. We are constantly refining these systems to improve operational efficiency and deliver superior customer service.

StartupTalky: What were the most significant challenges for Consortium Gifts in 2024, and how did you overcome them?

Mr. Bhagat: 2024 was a phenomenal year for Consortium Gifts, and I can honestly say we were fortunate not to face any major challenges. In fact, it turned out to be our best year yet, marked by significant wins and the laying of a solid foundation for an even bigger 2025. We experienced substantial growth, particularly in the premium gifting sector, which continues to see an increase in demand across industries.

That said, like any successful journey, we did face a challenge that taught us valuable lessons. Some brands we represented were undercutting us on price and not maintaining consistent pricing across different channels. This presented not just a business challenge but also a learning opportunity. We realized the importance of having a strong, in-house product portfolio, which allows us to maintain control over quality, pricing, and brand integrity.

By focusing on curating and expanding our in-house product offerings, we were able to shield ourselves from the volatility of external price fluctuations. This strategic move is already paying off and has positioned us for even greater growth in the upcoming year.

StartupTalky: What are your plans for Consortium Gifts in 2025 in terms of innovation, global expansion, and enhancing the customer experience in the corporate gifting industry?

Mr. Bhagat: 2025 is poised to be a transformative year for Consortium Gifts as we scale new heights in innovation, global expansion, and customer experience. Our immediate focus will be on strengthening our footprint across five major Indian cities, with Hyderabad, Bangalore, Pune, and Mumbai at the forefront of our expansion strategy. Additionally, we are set to move into a state-of-the-art, 40,000-square-foot facility in the NCR, which will serve as a hub for creativity, sustainability, and operational excellence.

On the product front, we’re gearing up to surprise our clients with groundbreaking innovations designed to redefine corporate gifting. Sustainability remains a cornerstone of our approach, with plans to launch eco-friendly gifting solutions that include materials like recycled steel, aluminum, and ocean-waste fabrics, aligning with the growing global demand for green practices. Studies show that 78% of consumers are more likely to engage with brands that prioritize sustainability—a trend we are fully embracing.

We’re also investing in cutting-edge branding technologies to deliver unparalleled customization and exploring advancements to shorten turnaround times without compromising on quality. With these plans in motion, 2025 is not just a year of growth but a year of delivering an elevated experience for our clients while contributing meaningfully to the corporate gifting industry.

StartupTalky: As a founder, what advice would you give to aspiring entrepreneurs looking to enter the corporate gifting or B2B industry?

Mr. Bhagat: The corporate gifting and B2B space has evolved drastically over the past 25 years. When I started, the market dynamics were different—today, the entry barriers are significantly higher due to factors like stringent compliance requirements, substantial capital investment, and the need for robust infrastructure. However, the rise of technology and e-commerce platforms has opened doors for niche players to carve out a space for themselves, even in a competitive environment.

My advice to aspiring entrepreneurs is simple: start small but think big. Test your ideas thoroughly, identify a niche, and focus on delivering exceptional value. Once you’ve validated your proof of concept, aim to scale strategically. As Grant Cardone says, move from ‘Tiny to 10X’ by leveraging technology and customer insights to drive exponential growth. For instance, the global corporate gifting market is projected to reach $350 billion by 2025, driven by trends like personalized, sustainable gifting—an area ripe for innovation.

Lastly, don’t underestimate the importance of building strong relationships. In a B2B industry, trust and reliability are paramount. Combine these principles with the agility to adapt to market trends, and you’ll be well-positioned to succeed in this dynamic space.

Explore more Recap’24 Interviews here.