According to The Advertising Specialty Institute’s 4th annual Corporate Gift Spending Survey, companies plan to spend an average of $44.98 per person for employee gifts and $33.92 for client gifts.
That tops last year’s figures of $41.70 and $26.48 and it’s the highest they’ve seen in the past four years.
42.4% of employers are making it easy on themselves by handing out gift cards. 29.2% will do them one better by simply handing their employees cash. But an almost equal amount (27.5%) are handing out food and beverage baskets. For clients, they prefer baskets that have their own company logo on wine bottles and other goodies.
According to ASI’s , nearly two-thirds of responding companies said they will include their company logo either on their gift or on its packaging, proving the continuing popularity of branding.
Useful gifts are in high-demand, items like USB flash drives that double as a bottle opener or an Eco-friendly pen made from 100% recycled newspaper and plastic.
You don’t have to be a retailer of branded products in order to land a corporate customer. ASI says companies are interested in all kinds of gifts. Popular gifts this year include a tequila shot glass carved from Himalayan pink salt and a gourmet surf and turf meal sent in a reusable bucket. If you can come up with a unique idea that looks like it’s worth more than they paid, you’re in.
You see, even though most (67.7%) companies gift gifts to express their appreciation, 59.3% say it helps develop relationships with clients. 56.6% said gift giving helps generate goodwill toward their company.
Want in on the action? Put together your best bundle, take a nice picture and send it off to your regular client list with a note about how this would make the perfect corporate gift. You could also try pitching your products on LinkedIn.
One word of caution to small business owners. Many companies buy gifts in bulk. So think about your available inventory and the time it will take to pull everything together before promising a Fortune 500 company that you can deliver in time for Christmas.