Corporate gift-giving budgets in North America are expected to reach a four-year high this Christmas, according to the Advertising Specialty Institute (ASI).
The US-based trade organisation predicted the average company would spend $33.92 (£20.78) per client on promotional gifts like stationery, mugs and mousemats over the festive season.
Meanwhile, they’ll be even more generous when it comes to rewarding the hard work of their own people – the ASI believes North American businesses will spend on average $44.98 per employee on corporate gifts this Christmas.
In 2012, by comparison, the average company spent just $26.48 per client and $41.70 per employee.
Timothy Andrews, ASI president and chief executive, commented: “Thanking employees for a job well done or expressing appreciation to loyal clients with a thoughtful gift is a smart business decision even the smallest company can make.”
He said the fact businesses are spending more this year is probably a result of better economic conditions, but added that this kind of generosity “can pay dividends all year long through repeat business or harder working employees”.
Posted by Robin McCrink