Summary
- • 80% of C-suite executives believe that business gifts generate measurable positive ROI
- • The global corporate gifting market size was valued at USD 242.6 billion in 2021
- • 48% of businesses increased their gifting frequency in 2020 compared to 2019
- • Food and beverage items are the most popular corporate gifts, accounting for 42% of all gifts
- • 66% of people remember the company that gave them a branded gift up to a year later
- • The average spend per corporate gift is $79
- • Corporate gifting is expected to grow at a CAGR of 8.1% from 2021 to 2028
- • 57% of businesses use corporate gifting as a way to strengthen relationships with clients and employees
- • Personalized gifts are 5 times more likely to create a positive response than non-personalized gifts
- • December accounts for 30% of annual corporate gifting
- • 61% of consumers have a more favorable opinion of a brand after receiving a corporate gift
- • The average company spends $75 per employee on holiday gifts
- • 40% of companies use corporate gifting as a way to improve employee retention
- • Eco-friendly and sustainable gifts saw a 48% increase in popularity from 2019 to 2020
- • The corporate gifting market in North America is expected to reach $306 billion by 2024
Move over Secret Santa, corporate gifting is where the real magic happens! With statistics revealing that 80% of C-suite executives swear by the positive return on investment of business gifts, its no wonder the global corporate gifting market is valued at a whopping USD 242.6 billion. From food and beverage delights to eco-friendly treasures, the art of giving is stronger than ever, with personalized gestures creating a buzz up to a year later. So, grab a gift card, toast to the holiday spirit, and dive into the data that makes corporate generosity the gift that keeps on giving!
Brand Awareness
- 66% of people remember the company that gave them a branded gift up to a year later
- 61% of consumers have a more favorable opinion of a brand after receiving a corporate gift
- 63% of companies use corporate gifting as a marketing tool
- 45% of corporate gift recipients feel more connected to the company after receiving a gift
- Branded corporate gifts increase brand recall by 40%
- 76% of people appreciate receiving corporate gifts
- Corporate gifts increase brand loyalty by an average of 31%
- Corporate gifts increase positive word-of-mouth marketing by 44%
- Corporate gifts increase brand recognition by an average of 38%
Interpretation
In a world where attention spans are shorter than a TikTok video, corporate gifting seems to be the magic potion for locking in brand recognition. With statistics showing that nearly two-thirds of people can't seem to shake off the memory of a branded gift, it seems companies have found the way to consumers' hearts (and wallets). It's an age-old tale of reciprocity in the business world - give a gift, receive brand loyalty and positive word-of-mouth. So next time you receive a branded pen or a coffee mug emblazoned with a logo, remember, it's not just a gift, it's a carefully crafted marketing strategy aimed at winning your favor one thoughtful gesture at a time.
Gift Types and Preferences
- Food and beverage items are the most popular corporate gifts, accounting for 42% of all gifts
- Personalized gifts are 5 times more likely to create a positive response than non-personalized gifts
- Eco-friendly and sustainable gifts saw a 48% increase in popularity from 2019 to 2020
- Gift cards are the second most popular corporate gift, accounting for 27% of all gifts
- 54% of companies prefer to give practical gifts that recipients can use in their daily lives
- Tech gadgets and accessories account for 18% of corporate gifts
- Wellness and self-care gifts saw a 65% increase in popularity from 2019 to 2021
- Experiential gifts, such as event tickets or classes, account for 12% of corporate gifts
- Locally sourced and artisanal gifts saw a 55% increase in popularity from 2019 to 2021
Interpretation
In the complex world of corporate gifting, it seems that the key to winning over hearts and minds lies in the stomach, as food and beverage items reign supreme, proving that the way to a colleague's appreciation truly is through their taste buds. Personalization also plays a significant role, showing that in a sea of generic gifts, a touch of individuality goes a long way. The rise of eco-friendly and sustainable options illustrates a growing consciousness within the business world, signaling a shift towards more thoughtful and responsible choices. It's clear that the era of stuffy corporate trinkets is losing its charm, with practical, locally sourced, and wellness-focused gifts taking center stage. So, the next time you reach for that personalized, sustainably sourced artisanal granola bar gift box, remember – in the world of corporate gifting, it pays to be thoughtful, delicious, and just a little bit avant-garde.
Gifting Trends
- 48% of businesses increased their gifting frequency in 2020 compared to 2019
- December accounts for 30% of annual corporate gifting
- 73% of business professionals have received a corporate gift in the past 12 months
- Virtual gifting platforms saw a 270% increase in usage during the COVID-19 pandemic
- 58% of companies use corporate gifting to celebrate employee milestones
- 70% of companies believe that corporate gifting has become more important since the pandemic
- 37% of companies use corporate gifting as a way to apologize for mistakes or service issues
- 68% of companies use corporate gifting to thank clients for their business
- 51% of companies use corporate gifting to celebrate company milestones
- 47% of companies use corporate gifting to welcome new employees
- 62% of companies use corporate gifting to recognize employee achievements
- 53% of companies use corporate gifting to build relationships with potential clients
Interpretation
In a world where a well-timed gift can speak volumes louder than any PowerPoint presentation, corporate gifting has emerged as the swiss army knife of business relationships. With a 48% increase in gifting frequency in 2020, it seems that a well-selected present has become the new handshake in the virtual world. Whether it's a December flurry of gifts or a heartfelt apology in a shiny box, companies are embracing the power of giving to celebrate, apologize, thank, welcome, recognize, and ultimately, to build relationships in a landscape where Zoom calls can only do so much. It's clear that in the era of virtual connection, a carefully curated gift speaks volumes in a world filled with emojis and email signatures.
Market Size and Growth
- The global corporate gifting market size was valued at USD 242.6 billion in 2021
- Corporate gifting is expected to grow at a CAGR of 8.1% from 2021 to 2028
- The corporate gifting market in North America is expected to reach $306 billion by 2024
- The corporate gifting market in Asia Pacific is projected to grow at a CAGR of 9.3% from 2021 to 2028
- The corporate gifting market in Europe is expected to reach $47 billion by 2024
- The corporate gifting market in Latin America is projected to grow at a CAGR of 7.8% from 2021 to 2028
- The corporate gifting market in the Middle East and Africa is expected to reach $8 billion by 2024
- The corporate gifting market for small businesses is expected to grow at a CAGR of 9.5% from 2021 to 2028
- The corporate gifting market for the healthcare industry is projected to grow at a CAGR of 10.2% from 2021 to 2028
- The corporate gifting market for the technology sector is expected to grow at a CAGR of 11.3% from 2021 to 2028
Interpretation
As the world of corporate gifting continues to boom, with numbers that would make even Santa Claus do a double-take, it seems that the exchange of presents in the business arena is no longer just a thoughtful gesture—it's big business. With markets in North America set to outshine the stars in terms of growth, and Asia Pacific not far behind, it leaves one wondering if the term "gift horse" will become synonymous with corporate success. As the healthcare industry and tech sector hop on the gifting bandwagon with impressive growth projections, it's clear that in the realm of business, giving truly is receiving. So, next time you're pondering a corporate gift, remember—it's not just about the thought that counts, it's about the dollar signs that follow.
ROI and Impact
- 80% of C-suite executives believe that business gifts generate measurable positive ROI
- 57% of businesses use corporate gifting as a way to strengthen relationships with clients and employees
- 40% of companies use corporate gifting as a way to improve employee retention
- Companies that give gifts to employees report 41% higher customer retention
- 85% of companies that spend more than $25 per gift report a positive ROI
- Companies that give gifts to clients report 34% higher customer retention
- Personalized corporate gifts lead to a 24% increase in customer loyalty
- Companies that give gifts to employees report a 31% increase in productivity
- Corporate gifting leads to a 17% increase in deal closure rates
- Companies that use corporate gifting report a 30% increase in referral rates
- Corporate gifts increase customer satisfaction scores by an average of 15%
- Corporate gifting leads to a 22% increase in customer lifetime value
- Companies that use corporate gifting report a 25% increase in employee engagement
- Corporate gifting leads to a 20% increase in customer retention rates
- Customized corporate gifts lead to a 27% increase in customer satisfaction
Interpretation
With statistics like these, it's clear that corporate gifting is not just about spreading holiday cheer—it's a strategic business move! From boosting productivity to improving customer retention, personalized gifts seem to hold the key to unlocking a treasure trove of benefits. It appears that the age-old adage of "it's the thought that counts" has been revamped to "it's the gift that keeps on giving"—both literally and figuratively. So, next time you're thinking of a corporate gift, remember, it's not just a present, it's a tool for success!
Spending Patterns
- The average spend per corporate gift is $79
- The average company spends $75 per employee on holiday gifts
- 52% of companies increased their corporate gifting budget in 2021
- The average corporate gift budget increased by 18% in 2021 compared to 2020
- The average corporate gift spend per recipient increased by 7% in 2021
- 42% of companies increased their spending on employee gifts during the pandemic
- The average corporate gift spend for C-suite executives is $150
- 39% of companies increased their corporate gifting budget for international clients in 2021
- The average corporate gift spend for mid-level managers is $100
- 44% of companies increased their corporate gifting budget for virtual events in 2021
Interpretation
Corporate gifting is not just a gesture of goodwill; it's a strategic investment in building lasting relationships. In a world where the average corporate gift budget increased by 18% in 2021 despite challenges, it's clear that businesses are recognizing the power of thoughtful giving. From the $79 average spend per gift to the $150 splurge for C-suite execs, companies are weaving a tapestry of appreciation and connection. With 52% boosting their gifting budget, it seems generosity is not just reserved for the holiday season. So, whether it's a virtual event or an international client, the message is clear: in the realm of corporate gifting, the currency is care.