Corporate gifting is a booming market. A Grandview Research report showed its worth at $318.2 billion globally in 2019. The U.S., one of the largest players, anticipates a 4.4% CAGR from 2020 to 2027, as per Allied Market Research. SMEs hold a significant 65% share, with customized gifts forming over half the market.
Asia-Pacific leads in growth with a projected 7.1% CAGR in revenue share from 2021-2028, followed by North America’s 6%. Edible products held the top spot in 2020 with a 28.7% revenue share. Premium gifts are projected to grow at a 4.4% CAGR from 2021 – 2028.
Despite the pandemic, 39% of companies plan to increase gifting budgets. Preference for gift cards over merchandise is at 72%, with 80% asserting higher employee engagement as a result. Non-cash rewards are popular, with 96% of U.S. firms using them. Traditional items like clocks and pens contribute 31.7% of sales, while eco-friendly gifts will see a 3.2% CAGR till 2025.
The sector’s value is predicted to reach $423.85 billion by 2025. Online channels are slightly more profitable, thanks to convenience. The data underscores corporate gifting’s importance both economically and socially, highlighting its strategic business value.
Now, let’s take a closer look at the most important statistics about corporate gifting.
This statistic is a testament to the immense size of the corporate gifting market, highlighting its importance in the global economy. It is a powerful reminder of the potential of corporate gifting as a tool for businesses to build relationships, strengthen loyalty, and increase brand recognition. This statistic is a valuable insight for any blog post about corporate gifting statistics, providing readers with a comprehensive overview of the market and its potential.
Small and medium-sized enterprises (SMEs) account for approximately 65% of the corporate gifting market.
This statistic is a testament to the importance of SMEs in the corporate gifting market. It highlights the fact that SMEs are a major player in the corporate gifting industry, and that they should not be overlooked when considering corporate gifting strategies. This statistic is a reminder that SMEs should be taken into account when discussing corporate gifting trends and strategies, as they are a major part of the market.
Corporate Gifting Statistics Overview
The Asia-Pacific region is expected to experience the highest growth in the corporate gifting market with a CAGR of 7.1% from 2021 to 2028.
This statistic is a clear indication that the Asia-Pacific region is set to be a major player in the corporate gifting market in the coming years. With a CAGR of 7.1%, it is expected to experience the highest growth in the sector, making it an attractive destination for businesses looking to capitalize on the corporate gifting trend. This makes it an important factor to consider when discussing corporate gifting statistics in a blog post.
Customized gifts account for over 50% of corporate Gifting.
This statistic is a testament to the power of personalization in corporate gifting. It shows that companies are recognizing the importance of making their gifts meaningful and tailored to the recipient. This is a trend that is likely to continue as companies strive to make their gifting more impactful and memorable.
The edible products segment dominated the global corporate gifting market with a revenue share of 28.7% in 2020.
This statistic is a testament to the power of edible products in the corporate gifting market. It shows that these products are highly sought after and have a significant impact on the market. This highlights the importance of edible products in corporate gifting and the need for businesses to consider them when planning their gifting strategies.
Premium corporate gifts are expected to witness a CAGR of 4.4% from 2021 to 2028.
This statistic is a valuable insight into the future of corporate gifting, indicating that the industry is likely to experience steady growth over the next seven years. This is an encouraging sign for businesses looking to invest in corporate gifting, as it suggests that the market is likely to remain strong and profitable. Furthermore, this statistic provides a useful benchmark for businesses to measure their own performance against, allowing them to track their progress and make informed decisions about their corporate gifting strategies.
39% of companies plan to increase their corporate gifting budgets in 2021.
This statistic is a testament to the importance of corporate gifting in 2021. It shows that companies are recognizing the value of gifting as a way to build relationships with customers, employees, and partners. It also indicates that companies are willing to invest in corporate gifting as a way to show appreciation and strengthen their brand. This statistic is a clear indication that corporate gifting is an important part of any successful business strategy.
72% of employees prefer a corporate gift card over merchandise.
This statistic is a powerful indicator of the effectiveness of corporate gift cards as a form of employee appreciation. It shows that the majority of employees prefer to receive a corporate gift card over merchandise, suggesting that gift cards are a more meaningful and appreciated form of recognition.
An estimated 96% of companies in the United States leverage non-cash reward programs for employees.
This statistic is a testament to the power of non-cash reward programs in the corporate world. It shows that companies recognize the value of rewarding their employees with something other than money, and are willing to invest in these programs to show their appreciation. This is an important point to make in a blog post about corporate gifting statistics, as it demonstrates the importance of non-cash rewards in the workplace.
The electronics and gadgets segment holds a significant market share of 20% in the corporate gifting market.
This statistic is indicative of the fact that electronics and gadgets are a popular choice when it comes to corporate gifting. It shows that companies are increasingly recognizing the value of gifting technology-related items to their employees and clients. This is an important trend to note, as it suggests that corporate gifting is becoming more modern and tech-savvy.
In 2020, gifts focused on health, wellness, and sustainability contributed to 25% of total corporate gift sales.
This statistic is indicative of a larger trend in corporate gifting: the increasing focus on health, wellness, and sustainability. It shows that companies are becoming more conscious of the impact of their gifting decisions, and are taking steps to ensure that their gifts are not only appreciated, but also beneficial to the recipient. This shift in corporate gifting is a positive sign for the future of corporate gifting, and is something that should be celebrated.
The traditional gifts segment, including items like clocks, pens, and memento, accounted for 31.7% of total sales in 2020.
This statistic is a testament to the enduring popularity of traditional gifts in the corporate gifting market. It shows that even in the digital age, these timeless items remain a go-to choice for businesses looking to show appreciation to their employees and customers. This is an important insight for anyone looking to make informed decisions about their corporate gifting strategy.
The online channel is expected to witness a slightly increased CAGR of 3.5% from 2021 to 2028 in the corporate gifting market.
This statistic is a valuable insight into the future of corporate gifting, indicating that the online channel is likely to experience a steady growth in the coming years. This is an important piece of information for anyone interested in the corporate gifting market, as it provides an indication of the potential opportunities that may arise in the near future.
The eco-friendly products segment in the corporate gifting market is expected to grow at a CAGR of 3.2% during 2021 – 2028.
This statistic is a key indicator of the potential for growth in the corporate gifting market. It shows that the eco-friendly products segment is expected to experience a steady increase in demand over the next few years, indicating that businesses are becoming more conscious of their environmental impact. This could be a great opportunity for companies to capitalize on the trend and offer more sustainable corporate gifting options.
94% of companies plan to maintain or increase their corporate gifting budgets despite the pandemic.
This statistic is a testament to the importance of corporate gifting in the business world, even in the face of a global pandemic. It shows that companies recognize the value of corporate gifting and are willing to invest in it despite the economic uncertainty. This statistic is a powerful reminder that corporate gifting is an essential part of building relationships and strengthening business ties.
Conclusion
The corporate gifting market is a rapidly growing industry, with the global market valued at $318.2 billion in 2019 and expected to reach $423.85 billion by 2025. The U.S., Asia-Pacific region, and small and medium-sized enterprises (SMEs) are all major contributors to this growth, as well as customized gifts which account for over 50% of corporate Gifting sales worldwide. Edible products dominate the global corporate gifting market with 28.7%, while premium gifts are anticipated to witness a CAGR of 4.4%. Companies plan on increasing their budgets despite the pandemic; 39% plan on increasing them while 94% will maintain or increase them in 2021 – 2028 period respectively . Corporate gift cards remain popular among employees who prefer them over merchandise 72%, resulting in higher levels of employee engagement 80%. Traditional items such as clocks, pens, mementos still hold 31.7 % share whereas eco friendly products segment is estimated to grow at 3 2 % during 2021 -2028 period . Online channel also holds significant potential , witnessing an increased CAGR of 3 5 % from 2021 – 2028 All these statistics point towards one thing: that companies should consider investing more into corporate gifting programs if they want better client relationships and improved employee engagement rates
References
0. – https://www.swag.com
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2. – https://www.grandviewresearch.com
3. – https://www.businesswire.com
4. – https://www.forbes.com
5. – https://www.hbr.org
6. – https://www.researchandmarkets.com
7. – https://www.incentivegroup.com
