TREVOSE, Pa., Nov. 20, 2018 /PRNewswire/ -- The annual corporate gift-giving report released today by the Advertising Specialty Institute® (ASI) found more companies than last year are planning to give gifts this holiday season, with 42% rewarding employees (up from 40% in 2017) and 37% (up 5 percentage points) showing client appreciation.
"The economy is booming in many sectors and the job market is very tight, so smart companies hoping to stand out from their competition are thanking hardworking employees and loyal customers through money or cool gifts," said Nathaniel Kucsma, ASI's executive director of research and corporate marketing.
Nearly 80% of companies surveyed nationwide said they expect to spend about the same as 2017 in total on holiday business gift-giving. On average, employers giving gifts to customers/prospects will spend an average of $48 on each, up from $46 last year.
Respondents to ASI's 2018 Corporate Gift Spending Survey said the main reasons they give gifts to clients/prospects is to express appreciation and help develop relationships. Other reasons were to generate company goodwill, increase company awareness, obtain a referral, generate a lead and obtain a sale.
When asked to describe in a word how they feel upon receiving a holiday gift from a company they do business with, the majority said "appreciated."
Of companies planning to thank employees, 75% expect to include all workers. However, the survey also showed that while more companies plan to engage in employee gift-giving, they'll spend less per employee, averaging $65, down $14 from last year.
The most popular gifts include gift cards, apparel, food/beverages, drinkware and desk accessories.
When asked their "best ever" corporate holiday gift, responses ranged from "tablet computer," "jacket with Alzheimer's awareness on it," "ham" and "nice large fruit basket" to "Tiffany necklace" and a "trip for everybody down to Reno for three days all expenses paid."
Promotional products are logoed items like pens, mugs and T-shirts typically given away by companies, organizations, schools and nonprofits to advertise their company, brand or event.
ASI contacted people from a cross-section of industries with a personal role in decisions about procuring corporate gifts for either employees or clients. The sample size was 552, with a field date of October 2018.
The Advertising Specialty Institute (ASI®) serves a network of 23,500 suppliers, distributors and decorators in the $23.6 billion promotional products industry.
SOURCE Advertising Specialty Institute