Businesses Nationwide Report an Increase in Corporate Gift-Giving During the Current Holiday Season, According to ASI Survey Results
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The Advertising Specialty Institute (ASI) has released its annual Corporate Gift-Giving Report, providing insights into the holiday season's gift-giving trends among businesses.
According to the report, released on November 27, 2018, popular corporate holiday gifts this year include gift cards, apparel, food and beverages, drinkware, and desk accessories. Interestingly, nearly half (48%) of all companies planning to give gifts this holiday season said all the items they provide will feature their logo, up three percentage points from the 45% in 2017.
More companies are giving corporate gifts this year compared to last year. In fact, 42% of companies are planning to reward employees with corporate gifts, up from 40% in 2017. The majority of these companies (75%) expect to include all workers in their gifting.
On average, employers giving gifts to customers or prospects will spend $48 on each, up from $46 last year. However, the average spending per employee for employee gifts has decreased to $65, down from $79 last year. Despite this decrease, the net spending per company remained identical.
The main reasons companies give gifts to clients or prospects are to express appreciation and help develop relationships. Other reasons include generating company goodwill, increasing company awareness, obtaining a referral, generating a lead, and obtaining a sale.
Over a third of companies polled had not finalized their gift-giving plans by the time of ASI's survey. Nevertheless, 73% of gifts companies distribute in 2018 will bear imprinted logos, an increase from last year.
The survey was conducted by contacting people from a cross-section of industries who have a personal role in decisions about procuring corporate gifts for either employees or clients/prospects. The responses for the "best ever" corporate holiday gift range from a tablet computer to a Tiffany necklace and a trip down to Reno for three days.
Nathaniel Kucsma, executive director of research and corporate marketing at ASI, stated that smart companies are thanking employees and loyal customers through gifts due to a strong economy and a tight job market. He also mentioned that a majority of respondents to ASI's 2018 Corporate Gift Spending Survey said they feel "appreciated" upon receiving a holiday gift from a company they do business with.
Interestingly, 37% of companies are showing client appreciation with corporate gifts, up 5 percentage points. Nearly 80% of companies surveyed expect to spend about the same on holiday business gift-giving as in 2017. No specific companies were found to have calculated they would spend more money on Christmas gifts for their employees in 2018 compared to the previous year.
In conclusion, corporate holiday gift-giving continues to be a popular practice, with more companies participating this year compared to last. The focus remains on expressing appreciation, developing relationships, and increasing brand awareness.
