The corporate gifting industry is expected to top $300 billion this year, and it’s still growing at an eight percent clip.

Corporate gifting programs have evolved from a once-a-year holiday gift, to a year-round strategy to retain employees, close deals, and earn customer loyalty.

So, what does the future hold for this still-maturing industry? We asked our internal experts to sound off on their top trends in corporate gifting for 2024. They expect:

• The “Experience” Will Matter More
• Demand For Big Box Gift Cards Will Slump
• Employees Will Toss Swag In The Garbage Bag

Let’s dig into all three predictions!

“Experience” Will Matter More

Unwrapping your present is half the fun of actually getting a present. The wrapping paper glitters in the light. The ribbon feels silky as you untie it. The paper crinkles as you tear it away. It’s a fun experience before you ever get to the gift.

According to behavioral research from 2013, attractive packages light up the parts of your brain that recognize rewards. Meanwhile, unattractive packages fire the neurons associated with negative emotions.

Unfortunately, digital gifts often aren’t attractive. Send a business contact an Amazon gift card, and they don’t get much more than an unbranded email with some rote text. That hardly even feels like a gift, right?

It doesn’t have to be that way. And we predict that, for companies that recognize the benefits of corporate gifting, it won’t be that way in 2024 and beyond. Whether it’s a customer, a sales lead, or an employee, your recipients will want their digital gift to feel like a gift. If you deliver, they’ll take notice.

Make your gift feel like a gift by using their name in the email and the card they receive. Even better, include a note from you, not a generic message from a third-party vendor.

Finally, replicate the act of opening a gift.

Unwrapping a dynamic digital gift (like a video or animation) makes people like the gift 79 percent more than just getting a static digital gift (like an image in an email), according to a 2015 study by Babson College researchers.

When your recipients redeem your digital gift, they should get to watch the envelope open, and the card pop out, just like you hand-delivered it. 

Demand For Big Box Gift Cards Will Slump

A recent WeBoost survey found almost 3 in 4 consumers shop locally at least once a month. 

They do it for a variety of reasons: 

• To keep their money local
• Because they know the owner
• They want higher-quality products
• The customer experience is superior

Regardless of why recipients seek out local shops more, your corporate gifting strategy must follow. It’s not enough to offer three options for recipients to choose from a list of retailers if the place where they spend their money isn’t one of the options.

You could buy a gift certificate directly from the shop, but many local shops aren’t equipped to process gift cards. And there’s no way to scale a gifting program if you have to individually ask each recipient about their favorite store and then call each store.

The solution is digital gift cards. Digital gift cards are a flexible way to let recipients spend their gift money when and where they want. They spend like cash but still feel like a personalized, thoughtful gift. 

Employees WIll Toss Swag In The Garbage Bag

Swag has lost its swag. No one wants “Stuff We All Get” because it’s cheap, impersonal, and often wasteful.

About 40 percent of those tchotchkes—the mugs, trucker hats, tees, pens, and more that litter every conference and most office Christmas parties—end up in the landfill, according to an ING study.

Wastefulness is becoming an increasing sticking point for gift recipients. A Deloitte study, found consumers are increasingly sustainability-minded. State and local lawmakers are following suit.

A 2023 study by Marks and Spencer found seven in 10 consumers prefer a gift card from an ethical retailer with a reputation for sustainability. How recipients feel about the company, you give them a gift card to also affects their thoughts about your brand. So, the best option is to let your recipient choose who to spend their money with. That way, they get what they want from the brand they want.

Sharpen Your 2024 Corporate Gifting Strategy With Giftly

With over a decade of expertise in the corporate gifting space, Giftly has consistently been at the forefront, helping leaders celebrate their teams and customers with gifts that truly resonate. Our approach to gifting is not just about the present moment; it's about crafting an experience that leaves a lasting impression.

If you're looking to sharpen your corporate gifting strategy for 2024, Giftly is your go-to partner. We invite you to explore the possibilities with us. Whether you're aiming to recognize employee milestones, foster customer loyalty, or simply spread joy, our team is ready to help you create memorable gifting experiences.

Don't miss the chance to redefine corporate gifting in your organization. Schedule a chat with us, and let's collaboratively shape a gifting strategy that aligns with your company's values and vision for 2024.