Multi-Culturalism Pays Dividends For UAE’s Gifting Industry
There’s been heartening news for the UAE’s dining and gifting materials industry. Euromonitor International research suggests the market will rise 17.5% to 2023 when it have to be worth in total a retail value of some US $14.1 billion.
The local market’s love of luxury goods is one motive sustaining the upward fashion as is the tradition of corporate gift giving. But another purpose behind the sector’s growth momentum is the strong gifting heritage locally which is now vastly supported by its multi-cultural population.
Over 60 nationalities live and work in the country and its tolerance for a number of faiths potential a complete vary of traditional festive celebrations are celebrated in the country, as are religious festivals.
Of course, Eid is a top period for gifting retailers. But then there’s Diwali, Chinese New Year, the Orthodox New Year and Christmas and as these are spread in the course of the annual calendar, it makes for a year-round business.
The giving and receiving of gifts is an essential part of expert and personal life in the Middle East, throughout the sub-continent and Asia with many of its nationals dwelling in the UAE. Gift giving is in the very DNA of these regions and is closely related with the need to build and maintain relationships to progress business. Gift-giving is also rooted in Islam. The holy Prophet (PBUH) placed great importance on it for the promotion of mutual love and affection and the nurturing of pleasant relations.
Top gift choices for the region consist of jewellery, leatherware together with purses and handbags, statement pens and watches. Gifts are frequently luxurious and used to show status, respect, wealth and generosity.
Leatherware is set to be a main part of the inaugural Gifts & Lifestyle Middle East, a committed trade show for gifts, accents and lifestyle-related products, which takes place from 9-11 March at Dubai World Trade Centre.
The specialty trade show will also offer a platform for suppliers to show off design-driven products and connect with design-driven products while bringing together a huge vary of retailers under one roof, which includes lifestyle and gift stores, department stores, outlets, distributors, wholesalers, export-import and hotels, restaurants, café and bars as well as firms and commercial end users.
Food is also given and the arrival of large, ornate platters of chocolates, dates and honey-coated Arabic sweets in homes and offices across the Emirates is common in Eid whereas a visit to the home of Indian friend during Diwali would be successful when accompanied by a gift of richly embellished homeware, crystal or silverware.
In the UAE, company gifting says a lot about your business cred. Unlike in the West, the luxurious corporate gift market has mostly survived the belt tightening which followed the economic crisis and uncommon items such as richly ornate snakeskin, gold embroidered or lavishly plumed hoods for falcons so treasured by falconers can command heady prices.
But corporate sensibilities are creeping into the marketplace. Businesses increasingly look for gifts that display unique core values and with climate change discussions now taking keep worldwide, a trend towards eco-friendly gifts is being detected. Environmentally friendly gifts can denote serious eco-credentials with ranges crafted from renewable or recycled materials now in corporate sights.
The same goes for creativity – giving gifts with unique designs which touch on the culture of the region of the giver or receiver – can leave lasting impressions of innovation. Demand for uniqueness and creativity is fostering complete new ranges of jewellery, dinnerware, glassware and artwork.
The culture of gift giving is changing in the UAE – but to the beat of a multi-cultural drum which looks likely to stand the test of time.