Corporate Gifts is a big and growing business. According to Advertising Specialty Institute’s 7th annual Corporate Gift Spending Report, spending on corporate gifts is increasing. The report was published at the end of 2015. The upward trend in corporate gifts is attributed to an improving economy following the Great Recession.
ASI results also show that gifts to employees is growing. However, gifts to clients is down slightly. Further, the average amount spent on individual gifts was higher in both categories, but companies spend more on gifts to employees. The need to retain key employees during a robust job market is the reason given for this trend.
Corporate Gifts: Trends to Watch
Other trends identified in the ASI study are as follows:
- Gift cards and cash have grown into the leading gifts to employees.
- The majority of corporate gifts to employees and clients now feature a company logo.
- The primary goal of gifts to customers and prospects is to express appreciation, followed by relationship building.
- Fruit baskets, popcorn tins, engraved pens & other personalized items are cited as the best corporate gifts.
- Tech & apparel are two categories expected to show strong growth as corporate gifts.
Corporate Gifts: Welcoming a Newborn Baby
While not specifically covered in the ASI study, baby gifts is also seeing growth from businesses. The reason is simple. A baby gift is an opportunity to build good will with an employee or client in a way few other gifts can. In fact, baby gifts actually touch the entire family making it an excellent investment for businesses.
Silly Phillie® specializes in upscale, made to order baby gifts. Further, the company’s proximity to Manhattan, where many large firms are headquartered, along with an impressive line of products has made Silly Phillie® a preferred vendor to the corporate gift market.
Moreover, Silly Phillie® has identified the following qualities as being most important to businesses in choosing a corporate gifts vendor:
- Superior product quality
- Uniqueness of product
- Ability to customize and/or personalize
- Quick turn around time
- Excellent customer service
Cost did not make this list. While cost is a deciding factor in other product categories, not so when it comes to baby gifts. Product related factors like quality, presentation and uniqueness far out weigh the cost of an item.
I hope you enjoyed reading this piece on corporate gifts. If you have any questions or would like to discuss a corporate gifts program with Silly Phillie®, please contact me by phone (855.885.3900) or email (email@example.com). I look forward to hearing from you!
Until next time…
Phyllis Gordon S’Dao