Corporate gift giving spend is on the rise, according to the results of the Advertising Specialty Institute’s 7th annual Corporate Gift Spending Report. With more companies not only thanking their clients with gifts, but also spending more in the process, it begs the question: Are your corporate gift giving efforts keeping up with the competition? Let’s take a closer look at how today’s companies are feting their clients, along with key takeaways for planning your own corporate gift giving strategies.
The State of Corporate Gift Giving
According to the ASI report, corporate gift giving in 2015 was up a full 16 percent from 2014. What items were most popular? Food and beverage, trailed by items for the office, such as pens and calendars.
Even in cases where the number of client gifts decreased, the amount spent on gifts went up. The takeaway? If budget constraints are a factor, most companies are not choosing to make universal cuts across their corporate giving, but instead to adapt a more selective approaching when slating clients for gifts. In other words, rather than spending small amounts on many clients, some companies are choosing to invest in high-value relationships by spending more on their most loyal clients.
One simple way to avoid having to make potentially detrimental cutbacks to begin with? Make corporate gifts a line item in your annual budget.
Of course, your corporate giving program is only effective if the gifts you select are appreciated in equal or greater measure than money spent. The ASI survey reveals that people recall items like fruit and other baskets, popcorn tins, steak, and truffles as the most memorable gifts they’ve ever received.
Sensing a theme here? Indeed, gourmet food gifts are a timeless way to please clients because they’re useful, personal and delicious.
Don’t Forget Employee Gifts, Too
Also particularly noteworthy among the report’s findings? The focus on employee gifts. Said ASI’s market research director Nate Kucsma, “What struck me the most about the 2015 results is that companies are spending more overall on employee gifts than on client gifts, most likely in an effort to retain top talent in a robust job market when employees have more choices.”
In fact, just under a quarter of companies spent more than $100 on each of their employees in 2015 — compared to 18 percent the previous year. One additional tip when it comes to making the most of your employee giving program? Adding an extra element of recognition through a public presentation amplifies a gift’s impact.
Beyond the Holiday Season
One last thing to keep in mind: While the holidays are the most obvious time for giving gifts to clients, restricting your corporate gift giving efforts to December misses out on a major opportunity to build relationships throughout the year. Any time a client or employees makes an exceptional contribution is also the perfect time to express your appreciation by sending food gifts.
Ultimately, anyone can give a gift. However, giving the right gift is the crowning achievement. Understanding the current landscape of gift giving, acknowledging the gift preferences of contemporary recipients, and choosing consummate gifts which exemplify the quality your organization represents can help you implement the best corporate giving program. Browse our most popular, delicious food gifts today to find the perfect selections for your clients and employees.