This holiday season 44% of companies are giving employees cash or gifts, a number that has remained steady for the last two years, according to results of the Advertising Specialty Institute’s (ASI) annual nationwide Corporate Gift Giving Study. However, in spite of gift giving being a good way to show appreciation to loyal customers, only 32% of companies plan to give gifts to customers this holiday season, compared to 37% last year and 42% in 2014.
Companies are spending a median of $45 per employee, $1 more than last year. They’re spending a little less overall on client gifts, but thanking more customers and prospects. Half of the survey respondents will spend $25 or more per customer/prospect, down from $34 last year, giving gifts to an average of 184 clients and prospects, up from 154 last year.
Cash bonuses and gift cards remain the two most popular gifts for employees, with cash bonuses on the rise (9% increase over last year) and gift cards falling (5% decrease). Food or beverages and apparel are the next two most popular employee gifts.
Food or beverages remain the top choice of 47% of companies as gifts for customers. However, that’s a decline of 6% from last year, which, according to ASI, may suggest companies are considering other gifts such as calendars, gift cards, apparel and drinkware, as well as tech items.