We recently compiled a list of 20 Budget-Friendly Corporate Gifts for Employees, and in this article we will look at the best budget-friendly corporate gift for employees.
Importance of Corporate Gifts
According to a report by GlobalNewsWire, 68% of individuals state that receiving a memorable gift from their employer has enhanced their relationship with them. This underscores the capacity of gifts to foster positive connections, whether in personal or professional contexts. Data from a survey by Mrs Prindables indicates that 57% of surveyed employees are more likely to remain loyal to a company that provides gifts. In comparison, 62% do not anticipate receiving gifts from their employer this holiday season. This suggests an opportunity for employers to surprise their workers with tokens of appreciation, potentially fostering increased employee loyalty.
The WorldMetrics Report 2024 indicates that the global corporate gifting market is expected to grow to $242.9 billion. This means that companies worldwide are spending more on gifts for clients, employees, and partners. It shows how important giving gifts is for building good relationships and promoting brands. To make your employees feel valued and respected, your choice of gift is very important.
Gifts express gratitude and are more effective than mere objects. Marcel Mauss, a noted anthropologist, explored gift-giving in his 1925 study, “The Gift.” He revealed its complexity, highlighting its role in shaping relationships within workplaces and with clients. Mauss emphasized the multifaceted nature of gift-giving, involving legal, economic, spiritual, and moral obligations to give, receive, and reciprocate.
Gift-giving in the workplace often benefits the giver more than the receiver, yielding both tangible and intangible rewards. Many businesses, including giants like Apple Inc. (NASDAQ:AAPL), Alphabet Inc. (NASDAQ:GOOG) and Airbnb Inc. (NASDAQ:ABNB), recognize the importance of fostering a positive company culture through corporate gifting. By offering enticing gifts, benefits and perks, companies create an environment that promotes employee satisfaction, productivity, and creativity. Research, such as a Gallup poll, shows that employees who are actively engaged in their work tend to perform much better than their less engaged colleagues. This heightened level of engagement can lead to a significant increase in earnings per share, sometimes as much as 147%.
Top Corporate Gifting Ideas for 2024
In 2024, corporate gifting trends are driven by technological innovation, personalization, and a strong focus on sustainability and well-being. Businesses increasingly opt for eco-friendly gifts to show their commitment to environmental responsibility, choosing items like reusable drinkware, eco-friendly office supplies, and products made from recycled materials with minimal packaging. Tech gadgets remain popular, with wireless chargers, Bluetooth headphones, and smart home devices being highly appreciated for their practicality and ability to enhance daily life. Personalization is key, with companies using advanced techniques to create unique, custom gifts that leave a lasting impression.
Experience-based gifts are gaining traction, moving beyond traditional tangible items to offer memorable experiences like spa days, cooking classes, or event tickets. These gifts significantly boost employee morale and client loyalty while aligning with the company’s brand values and mission. Health and wellness gifts, such as fitness trackers, yoga mats, and customized health snack boxes, reflect a growing focus on promoting a healthy lifestyle. These options show the company’s commitment to the well-being of its employees and clients, fitting into broader corporate wellness trends.
Additionally, there is a strong appreciation for cultural and artisan gifts that support local businesses and artisans. Handcrafted items that reflect cultural significance or artisanal dedication are highly valued, offering a story that recipients can cherish. These gifts not only support local communities but also allow companies to showcase their local pride or global outreach, making them perfect for businesses looking to make a meaningful impact through their gifting choices.
With the dominance of e-commerce giants like Amazon Inc. (NASDAQ:AMZN) and Walmart Inc. (NYSE: WMT), finding affordable options has become easier than ever. Amazon Inc. (NASDAQ:AMZN) has exhibited steady revenue growth over recent quarters, with current quarter (June 2024) revenue estimated at $136.8 billion, marking a 1.8% increase from the same quarter last year ($134.38 billion). This growth continues into the next quarter (September 2024), where revenue is projected to be $145.7 billion, reflecting a 3% rise from the previous year’s $141.41 billion. Annually, Amazon’s revenue for 2024 is expected to reach $588.05 billion, a 2.3% increase from 2023’s $574.78 billion, with a potential jump to $653 billion in 2025, indicating an 11% growth. This growth is primarily driven by the company’s expanding market share in e-commerce, cloud computing (AWS), and various other services. However, the short-term growth rate shows a slight slowdown, likely due to market saturation and broader economic conditions.
In terms of earnings, Amazon Inc. (NASDAQ:AMZN) has consistently surpassed expectations, showcasing strong performance. For the quarter ending June 2023, the estimated EPS was $0.35, while the actual EPS was $0.65, an 85.7% surprise. This trend continued in September 2023, with an estimated EPS of $0.53 and an actual EPS of $0.86, a surprise of 62.3%. December 2023 also saw a positive earnings surprise, with actual EPS of $1.00 compared to the estimated $0.80, a 25% difference. For March 2024, the actual EPS was $0.90 against an estimated $0.77, a 16.9% surprise. Looking forward, the estimated EPS for the current quarter (June 2024) is $0.94, and for the next quarter (September 2024), it is $1.06. The full-year EPS for 2024 is projected at $4.18, with an expected rise to $5.31 in 2025.
Valuation measures for Amazon Inc. (NASDAQ:AMZN) reflect its premium valuation status. The trailing P/E ratio has decreased from 310.38 in Q1 2023 to 49.96, indicating improved earnings. The forward P/E ratio stands at 38.31, showing continued expectations of earnings growth. We should note that these estimates don’t tell much about whether Amazon is a cheap or expensive stock because Amazon has been shoveling its profits back into its business to subsidize either its growth or new initiatives. It isn’t a company that’s trying to maximize its short-term earnings. That’s why we believe Amazon shares will continue to perform better than the market. And we aren’t alone. AMZN is the #1 stock on our list of 31 Most Popular Stocks Among Hedge Funds.
With this backdrop, let’s explore our list of affordable corporate gifts for employees.
Methodology
To identify affordable corporate gifts for employees, we implemented a consensus-based approach to collect information from various sources: including Social Imprints, Snappy, Meetings & Incentives, Babble for Business, Gemnote, and Hoppier. From these blogs we identified popular affordable gift items in 2024, and developed a systematic scoring system. Each gift item we found through our sources was listed, along with the number of times it appeared in sources. In order to refine our search, we checked and averaged out the prices of these gift items from Amazon Inc. (NASDAQ:AMZN), and Walmart Inc. (NYSE: WMT), as these platforms are typically deemed affordable.
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With this backdrop, let’s proceed to #1 budget-friendly corporate gifts for employees.
1. T-Shirts
Average Price: $6.48
Affordable and practical, corporate t-shirts are a great investment. The saying “less is more” is perfect for T-shirts; all you need is a solid color, and little to no design. Gifting an ‘Employee of the Month’ t-shirt sounds like pure motivation. This gift option creates a sense of unity and belonging among employees, fostering team spirit and camaraderie.
While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as Amazon but that trades at less than 5 times its earnings, check out our report about The Cheapest AI Stock.
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Disclosure: none. The Best Budget-Friendly Corporate Gift for Employees is originally published on Insider Monkey.
