Online Gifting platform Giftxoxo has managed to secure an undisclosed amount in funding from Kshatriya ventures & is planning for an expansion within the country. Though the confirmation of fund infusion happened in May, the company apparently chose to delay the announcement, but the Bangalore based company won’t postpone the rollout of its services in major metros like Mumbai, Delhi, etc.
Giftxoxo is primarily into Corporate Gifting. That means, companies who wish to offer incentives to their customers or employees can approach this company for ideas & solutions. However, the platform is more of an advisor or ‘Gifting Consultant’, shared Manoj Agarwal, Co-Founder, Giftxoxo. Such an elevated approach should distinguish the company from the competition that is prevalent.
Corporate Gifting is nothing new & is a widely popular business proposition. Companies involved in this line have to add illustrious clients that ensure heavy offloading of merchandise or services & this helps these agencies keep the prices & tariffs competitively low. However, multiple agencies resort to aggressive price cuts to lure customers. Fortunately, the company boasts of some big names like Flipkart, OnMobile, Wipro, Aircel & others in its client list spanning more than 150 names. Such clients should suffice to prove the financial viability of the company.
The company is determined to reshape the gifting mechanism said a confident Agarwal, “We would be the first company in India which is making it big in gifting an ‘experience’ on the parallels of some very successful models in US, Europe and Singapore” What he could have implied is that company doesn’t want to be stuck with the label of ‘Gifting Vendor’ with a lot of options to merely choose from.
Corporate Gifting is slowly being realigned to act as the extension of the company, subtly showcasing its intentions, inclinations, agendas & most importantly its persona. If gifting companies start to understand the requirements of the customer, instead of laying out a spread of options, they could very well come out successfully putting forth the right impression. What do you think?
Source | nextbigwhat