Six Keys to Successful Corporate Gifting
Corporate gifting is big business in the US. According to a Coresight Research study, the
corporate gifting market in the US was projected at $258 billion in 2023. The same study estimates that this market will grow to 312 billion in 2025.
In a survey conducted by the National Retail Federation, almost 50% of companies plan to give gifts to employees, and the same percentage planned to give gifts to customers and clients as well.
With so many companies sending gifts, how can you ensure that your corporate gifting campaigns are meeting your objectives and delivering a return on your investment?
History of Corporate Gifting
Corporate gifting has a long history dating back to the early days of trade and commerce. The practice of giving gifts to business associates and clients has been used for centuries to build and maintain relationships, show appreciation, and increase sales.
The origins of corporate gifting can be traced back to ancient civilizations, where gifts were often exchanged as a form of diplomacy and to establish alliances. In medieval Europe, merchants would give gifts to lords and kings to gain access to their markets and secure trade agreements.
During the Industrial Revolution, corporate gifting evolved to include the distribution of promotional items, such as calendars, pens, and other small gifts, to help promote products and businesses.
In the 20th century, corporate gifting became more sophisticated and diverse, with companies using gifts to show appreciation and build relationships with employees, customers, and partners. Today, corporate gifting is an established practice in many industries, and companies of all sizes use gifts to build stronger relationships with clients and customers, increase sales, and promote their products and services.
In recent times, with the rise of e-commerce and online shopping, the gifting process has become more streamlined and easy to manage, with the help of corporate gifting platforms, and the possibility of sending digital and experiential gifts.