Uptick in Corporate Gift Giving

Part of the old adage that “it’s better to give” is making a comeback in the corporate gift giving market as results from Incentive’s 2013 Corporate Gift IQ Survey reveal that corporations are increasing their gift giving and their average spend on corporate/incentive gifts. This uptick is likely a direct result of an economy that is slowly yet steadily improving in many industries. According to the survey, more than three quarters (77.4%) of the respondents said corporate and business gifts are part of their incentive programs this year, an increase of 13.9 percent over last year (63.5%). What is also important to note is that the average total spend on corporate gifts also shows signs of increasing this year. The percentage of respondents who said they spend less than $50 per person on corporate gifts decreased from 57.6 percent in 2012 to 45.1 percent in 2013, while the number of respondents spending $50 to $299 rose to 49.9 percent in 2013 from 34.5 percent in 2012. And, not only has the value of gifts risen, the giving of business gifts on more occasions has also increased over the past two years, with a percentage almost twice as much in 2013 (10%) compared to 2012 (5.6 %). At the same time, the number not sending corporate gifts at all in that time period dropped to 4.7 percent in 2013 from 9.5 percent in 2012. Promotional events and employee recognition programs contributed, in large part, to that, as 52.3 percent said they gave gifts at promotional events, compared to 40.7 percent in 2012. Employee recognition gifts rose to 51.5 percent of respondents this year, up from 38.3 percent in 2012. Survey results indicate that gift cards lead the pack as the gift of choice for more than half of those polled, coming in at 66.6 percent, up from 63.9 percent in 2012. Several integral results are charted below.

If corporate gift giving is in your budget this year, and you would like to thank and reward employees, clients, suppliers then give us a call at 609 807 8856 and we can match a great corporate gift program to fit your budget.