One clear indicator of the recession’s end is the increased level of corporate gift giving in the U.S. Enterprises plan to spend more on both employees and clients this year for holiday-related gifts according to ASI. Keep in mind that this gift-giving can extend into the new year as businesses can wish their clients good success when January begins.
In its most recent Corporate Gift Giving survey, ASI reports that businesses use the annual gifting tradition as a way to increase branding. Whether they are giving out pens or mugs, about 66% of businesses make sure their gifts include the firm’s logo. This detail ensures that partners and prospective clients will be reminded of the giving business throughout the year.
Businesses intend to be more generous to employees than clients this year, giving out gifts valued at $44.98 and $33.92 on average, respectively. In general, marketers will hand out fewer, but more expensive gifts as well. Top gifts this year include gift cards (42.5%), bonuses (29.2%), food and beverage ( 27.5%) and apparel (11.2%)
ASI CEO Tim Andrews notes that "thanking employees for a job well done or expressing appreciation to loyal clients with a thoughtful gift is a smart business decision even the smallest company can make." Businesses seem to agree with this sentiment indicating that expressing appreciation is their top goal (67.7%). Other reasons for generosity include developing relationships (59.3%) and generating goodwill (56.6%).
The spending level this year is the highest it’s been in the last 4 years. Businesses are also exploring a variety of new gifts ranging from desk accessories to shot glasses to scented pens. Local businesses can promote their own products and services as unique items for the corporate gift market at year-end and into early January.
Do you have an interesting idea for a corporate gift that would generate attention and new business for marketers?