25 Nov 5 Budget Corporate Gifting Ideas
Christmas is just around the corner, and even though it has been a tough year, people are gearing up for the celebrations. The festivities might be on a smaller scale but there is no shortage of holiday spirit among people. With pandemic nowhere near its end, the perspective of people for gifting has transformed.
It has reshaped the way people plan to celebrate holidays. This holiday, the focus seems to have shifted from materialistic trends and moved to meaningful celebrations. This year, there will be fewer travel and increased stay-cations. Family bonding time with Christmas tree and cosy decorations, as well as short trips, will take precedence.
National Retail Federation (NRF) surveyed 7,660 consumers, where 1 in 5 people said while they typically travelled for holidays until last year, they would most likely stay home this year. Decreased spending on travel may benefit retailers with added sales. More than half of the consumers said they would use funds set for travel expenses to do more holiday shopping.
However, the general sentiment for spending is bleak. Economic downturn due to Covid-19 has affected all countries to a great extent. Many people have lost their jobs or suffered pay cuts. According to a survey by Accenture in USA, 22% of responders said Covid-19 has affected their financial security and that they would keep a tighter check on their spending. The survey also said that people would keep shopping from a physical store to a minimum and prefer online stores.
As for shopping budget, the survey said people plan to spend around US $540 this festive season. Although this amount is less than the previous year, it still showcases a positive shopping trend.
Whatever the budget is, though, people understand that with social distancing and restricted travelling, gifts will be an effective way to express their appreciation towards their friends and colleagues. Personal gifting is said to rule the gifting market but corporate gifting will also be huge.
With economic difficulties that all companies and organizations are facing, it is understandable that there will be smaller budgets for gifts this year. Nevertheless, employees too have had a tough year with financial insecurities as well as adjusting to a remote working environment.
This is why sending small tokens of appreciations that much more important and essential to boost morale. Gifts hold a sentimental value that is unmatched and even with a smaller budget; there are many gifting choices available in the market.
Let’s take a look at some of the gifts that can suit your budget but also create positive impressions.
One of the most versatile gifts is eco-products. These products not only cost-effective but also make a genuine statement for a company’s sustainable approach. Eco-products are a wonderful way to express your care towards your staff. Besides this, there are many products to choose from.
From desk essentials and stationery to bags and cutlery, eco-products can be as chic and stylish as you wish them to be. Most of the products can be customized and personalized to meet your needs. A small hamper of these products is sure to bring a smile to your employee’s face.
Another high-value product is décor items. This year, home décor trends will reflect the mood of family bonding and lean towards cosy fashion. While the colours of Christmas will be dominant, soft lighting and crotchet blankets that give a festive look will be popular.
Décor items like traditional and digital photo-frames, wall hangings, lucky chimes, lamps, air diffusers and decorative lights will make for great gifts. The price range is extremely wide for these items. You can find the most inexpensive kind of items as well as high-end products.
Edible Gifts & Sweets
Food products have always been popular gifts and they will remain so this year. Sweets, cookies and salty snacks make for great gifts as they are favoured by people of all ages. It is something families can enjoy together. As a company, you can easily find cost-effective options and decide on a hamper with varied food items. These days, apart from sweets and snacks, some of the most popular trends include health kits and exotic sweets.
Drinkware is the most functional gift that creates long-lasting positive impressions. A survey suggests that the drinkware market is estimated to have a 29% annual growth rate by 2025, standing at around US $35 billion. A simple mug can make a great impact. Another survey noted that nearly 60% of people had an emotional attachment to a favourite mug and 40% said nothing could replace their special mug.
With this kind of effect, companies benefit from gifting drinkware. From mugs and flasks to bottles and portable drinkware, there are a massive number of choices. These products are made from many materials these days. You can find not just food-grade plastic but also in stainless steel, copper, silicone and even glass.
Gifting something personalized and special does not need to be a costly affair. A customized box of functional objects with a personalized name tag or a motivational message makes a huge difference. While apparel, laptop sleeves, wristwatches, electronics products, board games and the likes might cost slightly more, they still make for wonderful bespoke gifts. Besides, phone accessories, stationery and swag like key chains, plushies, chocolate boxes are all some of the cheapest items that can be personalized to your requirements.
You might have set your budget and done your research, but with so many options it is certainly baffling to make a decision. Hue helps you understand what gifts will have the most impact on your business so you can make the right choice. Check out our extensive merchandise collection. We also offer customization services.