TREVOSE, Pa., Dec. 16, 2016 /PRNewswire-USNewswire/ -- The annual corporate gift-giving report released today by the Advertising Specialty Institute® (ASI) found 44% of companies are rewarding employees with gifts or cash this year. And, while companies are spending a little less overall on client gifts, they're thanking more customers and prospects in 2016.
The surveyed companies thanking employees for their year-long efforts with a holiday gift or cash plan to spend a median of $45 per employee, a dollar more than last year, ASI's nationwide Corporate Gift Giving Study found.
The survey found 32% of companies plan to dole out gifts to customers this holiday season, compared to 37% last year and 42% in 2014. The number of companies thanking employees has remained steady the last two years.
The majority of companies (80%) are planning to spend the same amount as last year on all gifts, while 11% will increase their spending, ASI's survey found. Half of survey respondents will spend $45 or more per employee, while half will only spend $25 or more per customer/prospect, down from $34 last year.
"Whether it's uncertainty over the economy or the presidential election, companies are more selective in 2016 when it comes to corporate gift-giving, but spreading more good cheer," said Nate Kucsma, ASI market research director, who found companies are giving gifts to an average of 184 clients and prospects this holiday season, up from 154 last year.
Cash bonuses and gift cards remain the two most popular gifts for employees, with cash on the rise (9% increase over last year) and gift cards falling (5% decrease). Food or beverages and apparel are the next two most popular employee gifts.
When it comes to customer gifts, food or beverages remain the top choice for nearly half (47%) of companies, a decline of 6%, suggesting companies are looking to other gifts like calendars, apparel and drinkware, along with tech gifts like a VR headset or 2.4Ghz drone.
Seventy percent of gifts given will come with company logos, an increase over last year.
ASI found 4% of companies plan to spend $250 or more per client, on higher-end gifts like a four-season cooler table kit, which is an all-in-one end table, bar table and cooler from Showdown Displays.
About a quarter of companies will not give gifts to employees, while a third remained unsure at the time of the survey, sent October 26-November 6 to decision-makers at companies throughout the U.S. Over a third (36%) of companies will not give gifts to customers, and 32% are not sure.
For more on ASI's survey, contact Nate Kucsma at firstname.lastname@example.org.
The Advertising Specialty Institute (ASI®) serves a network of 23,500 suppliers, distributors and decorators in the $22 billion promotional products industry.
SOURCE Advertising Specialty Institute