TREVOSE, Pa., Nov. 28, 2017 /PRNewswire-USNewswire/ -- The annual corporate gift-giving report released today by the Advertising Specialty Institute® (ASI) found companies are spending an average of $79 to thank each employee this holiday season, with 23% reporting they will spend over $100 on each.
ASI's nationwide 2017 Corporate Gift Spending Survey also found that, on average, employers thanking customers or prospects for their business will spend an average of $46 on each.
All told, 75% of companies are planning to spend the same amount as last year on gifts for employees and customers, while 17% will reduce their spending, a significant change from 9% last year.
"Employees and customers alike always appreciate getting a little extra over the holidays, and smart companies know corporate generosity pays dividends all year long through repeat business or employee loyalty – especially when the job market is tight and the possibility of a recession looms," said Timothy M. Andrews, ASI president and CEO.
When asked for one word to describe how they feel when they receive a gift from a company they do business with, the majority polled said "appreciated," followed by "thankful" and "grateful." The gifts respondents described as "best ever" ranged from a scuba suit, airline gift card and leather-bound calendar to a handwritten thank-you letter and gourmet cupcakes.
Apparel and gift cards are the two most popular gifts for employees, with apparel on the rise over the past three years, from 29% to 40%, ASI's study shows. Almost half the companies giving gifts will imprint them with their logo, an increase over last year.
For its survey, ASI contacted people from a cross-section of industries who have a personal role in decisions about procuring corporate gifts for either employees or clients/prospects. Over a third of companies polled had not finalized their gift-giving plans by the time of ASI's survey.
The Advertising Specialty Institute (ASI®) serves a network of 23,500 suppliers, distributors and decorators in the $23 billion promotional products industry. Logoed items like pens, mugs and T-shirts are often given away by companies, organizations and nonprofits to advertise their company, brand or event.
SOURCE Advertising Specialty Institute