Corporate Gift Giving on the Rise

As companies look for more ways to raise employee and customer morale in today's increasingly competitive landscape...

20:18 30 June 2016

As companies look for more ways to raise employee and customer morale in today's increasingly competitive landscape, the practice of corporate gift giving is becoming common in businesses of all sizes. Just a decade ago, few companies would give away gifts, and those that did were typically offering a free trial of one of their products or services. This year we're seeing a continued trend of gift giving in the corporate environment, and a few surveys and studies have indicated that this approach is working well to retain customers and keep employees satisfied.

Food Gifts are the Most Popular

Of all the gifts being passed around in today's office buildings, food items seem to be the most commonly given. Companies like Gimmee Jimmy's Cookies have noted a rise in business as corporate thank you gifts are becoming a standard practice for many enterprises. Baked goods appear to be the fan favorite because they're easy to keep fresh and delicious for longer periods of time, and they're a convenience snack that can be eaten just about anywhere. Next in popularity would be candies and other snack foods.

Setting the Mood at Corporate Events

A large number of companies are using gifts to not only show appreciation for clients/customers and employees, but also to set a festive mood at board and staff meetings, fundraisers, get togethers, award ceremonies, and other company events. While such generosity used to be reserved for small businesses and those in the hospitality industry, we're seeing this trend expand into larger enterprises as a standard industry practice. The “new school” managers and CEOs have been taught the importance of making their customer base feel appreciated, and showering them with gifts is an excellent way to achieve that.

Trend of Giving Expected to Continue into 2020

With the internet facilitating so many giveaways and sweepstakes, it's easy to see why offline businesses are starting to take the same approach. People love free stuff, especially when it comes as a surprise. It's hard to imagine the world of business moving backward in this regard, as new companies are going to be looking to outdo existing competitors, so the giving will probably only become more generous and creative as we approach the second decade of the 21^st century. It will be interesting to see how advancements in technology will change the way we give and receive gifts and the types of gifts that are given.

Being the One Who Doesn't Give Gifts

 

With so many organizations jumping on the gift giving bandwagon, nobody wants to be the odd man out – the one company that doesn't give any extra perks. On the other side of the coin, companies that hold frequent giveaways and offer excessive discounts are often taken advantage of by freebie hunters who make it their mission to go around collecting free stuff with no intention of ever doing business with the gift giver. Thus, there appears to be an undefined balance between giving too much and giving too little that every manager should work towards.