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Imagine the last gift you were given at work. Was that another dull branded mug, or did someone truly go to great lengths? Businesses these days are considering much beyond discount coupons and fruit bundles. The luxury corporate gifts are upending B2B gift customs, and executives all across are suddenly paying heed.

Let go of “business as usual.” Relationships now depend on how thoughtful—and sometimes spectacular—your presents can be. A sizable portion of the global corporate gifting market rides on the back of high-ticket, brand-name, even tech-powered presents, according to a 2023 Bain & Company analysis, which estimates the market at $242 billion. Why the change? Simple: Personal touch and real connection stand out in the age of digital everything like a neon light in a dark alley.

Let’s me stray into a standard boardroom conversation. Imagine Gina, the procurement director, combing through countless catalogues and eyebrows sky-high at yet another boring pen set. You have to start playing more if you want to connect with folks like Gina. Luxury gifts provide a shared memory and tell a story, therefore transcending mere price tag considerations. Modern businesses are trading basic tokens with Italian leather tech organizers, handcrafted coffee subscriptions, or tech-infused designer stationery from names you might find on Fifth Avenue.

And let us now discuss statistics. Based on Coresight Research, around 57% of corporate gift-giving spending have exploded over last year. That yields Careful, high-quality objects chosen especially for particular people. To be very honest, nobody recalls who handed them a stress ball. But a hand-made, personalized fountain pen created in a Parisian studio spanning centuries? Over coffee—and most likely Instagram as well—you will recount that story.

Culturally, this trend walks across continents. Giving has traditionally been a means of tying business ties together in Asia with great attention to symbolism and workmanship. In Europe and North America, the emphasis has shifted to objects that combine luxury with utility—think of limited-edition art prints, perfectly packed gadgets, or rare scotch. Around this, corporate gift services have developed a cottage industry with concierge companies committed to acquiring, tailoring, and presenting these gifts on a silver platter (sometimes literally).

But be careful of the traps. Lavish does not equate to mindless. One bad gift can erase months of relationship-building. Sending pork-based packages to a colleague whose team respects halal, for instance, could cause humiliation. In controlled industries, too generous presents might cause legal complexities or even compliance problems. The art is in knowing your recipients—that is, in knowing their likes, cultures, and sensitivity.