If you’ve started thinking of things in terms of “pre-2020” and “post-2020,” you’re not alone. The pandemic has changed the world in countless ways. And corporate gifting is no exception.
In this article, discover five unexpected ways the corporate gifting landscape has changed since 2020. Understanding these trends will help you maximize the benefits of corporate gifting for your business.
What is Corporate Gifting?
Corporate gifting is when a company gives gifts to its stakeholders. Stakeholders include employees, clients, and partners of the business. Gifts can be simple or elaborate. And companies may give gifts for important milestones, special occasions, or as a thank-you.
What Are the Benefits of Corporate Gifting?
Gifting is a way for companies to go the extra mile and invest in people who matter to them. Corporate gifting can help companies to:
- Show appreciation to stakeholders
- Boost employee morale
- Differentiate themselves from competitors
- Reinforce company values
- Create a more positive work environment
One of the biggest benefits of corporate gifting is how it can strengthen relationships. Creating a relationship of mutual trust and appreciation is invaluable in the business world. And a carefully selected gift can do just that.
Can Corporate Gifting Be Sustainable?
When you think of corporate gifting, you might picture cheap plastic trinkets with a company logo printed on the front. But now, there are many ways to choose gifts that are kind to people and the environment.
Lochtree’s sustainable corporate gifting program gives you vetted sustainable gift choices. And as we’ll discuss below, making sustainability a priority in gifting is more important than ever.
Now, here are five major trends we’ve seen in the corporate gifting arena since 2020.
1. The Corporate Gifting Industry Is Booming
Over the past few years, businesses around the world have had to adapt to a new normal. And many businesses recognized that their employees and partners face the same challenge. This may be one reason why the corporate gifting industry has grown steadily since 2020.
One survey by Coresight found that over half of the companies surveyed had increased their gifting budget because of the pandemic. The corporate gifting industry is estimated to grow by 8.1% CAGR through 2024. In comparison, personal gifting is only projected to rise by about 6% in that time.
This gifting helps create a bond between parties even in a high-stress, Zoom-meeting-fueled environment.
In one study, over 80% of companies reported that corporate gifting had improved their business relationships.
2. Companies Have to Balance a Remote Business World
Once upon a time, a manager could bring a box of donuts into the office and give each team member a pastry as a thank you for a big project. Now, that same manager might have team members working across the city, state, or even the country.
An increasingly remote workforce adds another layer to gifting. Companies have to plan ahead to send gifts to clients or employees in other locations.
Lochtree makes it easy to send gifts to valued employees and partners. We offer timely, carbon-neutral shipping and a range of gifts for everyone.
3. Unique, Personal Gifts Are Gaining Popularity
From personalized hair care to tailored vitamins, the “made-for-you” industry is growing at breakneck speed. One reason for this is that more people feel a need for both individuality and personal connection. And this trend is equally applicable to corporate gifting.
People don’t want to feel like they’re just a number or one box on a long list of to-dos.
So sending a generic branded mug may not create a deeper sense of closeness. On the other hand, a well-chosen gift with a personalized note shows that your business cares.
A desire for a more personal touch isn’t the only thing that changed during the pandemic. For many people, it’s been a time of drastic mindset shifts.
4. The Pandemic Changed Priorities & Values
For most of us, 2020 brought changes like nothing we’d ever experienced. Since then, our personal, professional, and social worlds have changed dramatically.
Post-pandemic studies on people’s values have had interesting results. More people are considering the impact of what they consume — and searching for ethically sourced products as a result. People are also placing a bigger emphasis on brand trust and reputation. One study found that most people would switch brands if their current brand wasn’t visibly working toward societal change.
As conscious consumption grows more mainstream, businesses need to make sure they choose responsibly. Some brands choose deceptive tactics like greenwashing to attract customers. But in the long run, consumers prefer genuine, transparent efforts to care for people and the planet.
5. Sustainable Corporate Gifting Is Becoming a Must
Because of these shifting values, sustainability can no longer take a backseat in corporate gifting. One study by KPMG found that 8 out of 10 employees surveyed want sustainable, responsible gifts rather than conventional items.
Sustainable corporate gifting helps you:
- Show your commitment to the planet
- Help employees make more sustainable choices
- Contribute to a conscious business culture
- Improve trust and positive brand image
Companies who prioritize sustainable gifts will stand out from competitors — and also contribute to much-needed change in the way we do business.
How Can I Find Sustainable Gifts for My Business?
When you’re looking for sustainable gifts for your employees, clients, or partners, there are several factors to consider.
- Is the product ethically sourced?
- How high is the quality? Will it last, or contribute to waste?
- Is it made from sustainable materials?
- What is the product packaged and shipped in?
- How does the manufacturer handle climate issues?
- What are the logistics of shipping gifts to remote employees?
We know you have a lot on your plate. That’s why we do the homework for you. Our team works with conscious brands to find the highest quality products. And we bring them together into one convenient, curated sustainable marketplace!
Sustainable Corporate Gifting with Lochtree
We offer a fresh, sustainable, and effortless approach to corporate gifting. (Without any stress or guesswork for you!) Our corporate sales team helps you find the perfect fit for your needs and budget. That way, you can rest easy knowing you’re doing something good for your business and the planet.
Learn More About Lochtree Corporate Sales