New survey finds 23% spending over $100 to thank each employee this season
TREVOSE, PA – November 27, 2017 – The annual corporate gift-giving report released today by the Advertising Specialty Institute® (ASI) found companies are spending an average of $79 per employee, with 23% reporting they will spend over $100 to thank each employee this holiday season.
ASI’s nationwide study also found that, on average, companies 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.
The 2017 Corporate Gift Spending Survey was conducted by ASI, which serves a network of 23,500 suppliers, distributors and decorators in the $23 billion promotional products industry. Promotional products are logoed items like pens, mugs and T-shirts given away by companies, organizations and nonprofits to advertise their company, brand or event.
“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 chief executive officer.
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 described as “best ever” ranged from a scuba suit complete with snorkel and fins, airline gift card and leather-bound calendar to a handwritten thank-you letter, gourmet cupcakes and windbreakers logoed with the company name.
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, the ASI survey found.
The majority of companies reported that expressing appreciation is the primary goal of giving gifts to customers and prospects, closely followed by relationship development.
For its survey, ASI contacted people from a cross-section of industries who were screened to 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.
For more information about ASI’s gift-giving survey or ASI’s other research reports, contact Nate Kucsma, ASI’s executive director of research and affiliates, at [email protected].
The Advertising Specialty Institute (ASI®) serves a network of 23,500 suppliers, distributors and decorators in the $23 billion promotional products industry. ASI’s flagship product, the technology platform ESP®, manages the industry’s entire supply and marketing chain. ASI also produces award-winning digital and print content, live events and educational programs that enable companies in 55 countries to be more efficient, productive and profitable. ASI’s Counselor® magazine provides the most authoritative business content in the industry, and the ASI Certification Program features 500+ live and online education courses for over 40,000 professionals. The company, family owned and operated since 1962, is proud to have been consistently ranked among the “Best Places to Work” in Philadelphia and Bucks County, PA. For more info: www.asicentral.com.