In the business of giving
A market leader and a newbie weigh in on the challenges of the gifts industry.
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IT is better to give than to receive, or so the saying goes. The art of giving has become a red-hot industry in itself, with both established firms and startups fighting for a piece of the pie in Singapore.
Among the gift and hamper companies here, one of the most recognisable names is mainboard-listed Noel Gifts, which recently celebrated its 40th anniversary. It is currently the market leader in the local festive hamper market and has an approximate 40 per cent share. It has also come into the spotlight recently for two of its high-profile projects - the SG50 Baby Jubilee Gift Community Initiative and the MAS Numismatic Currency Sets.
On the other hand, newly set up gift and flower company Simply Hamper isn't fazed by the challenges posed by its more established competitors, and is confident in carving out a niche in the industry. In the short span of a year, it has already garnered a clientele that includes major banks, hospitals and other multinational corporations.
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