Business-Gift Practices: What Buyers Are Saying About the Five Ws of This Long-Standing Tradition December 09, 2008 Provided by the Promotional Products Association International (PPAI)
Big business in the promotional products industry comes wrapped with a bow! A 2007 study conducted by university researchers found that eight out of 10 business organizations give business gifts—utilizing everything from office accessories and home accents to entertainment certificates to attract and retain clients.
Business-to-business gift giving is an incredibly powerful sector in the promotional products industry. In 2007, U.S. organizations shelled out nearly $6 billion for business gifts according to a study by Gfk Custom Research for the Incentive Federation. This revenue stream is a financial force in the industry that, until now, has flown quietly under the research radar.
In an effort to shed light on this extremely profitable avenue, PPAI commissioned a study that examined the buying habits (and the reasons behind them) of sales and marketing executives.
Answering the questions of who actually makes the business-gift buys, as well as what is bought, where, when and why, the research netted some interesting results.
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