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ABOUT THIS BLOG
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This blog will look at the winners and losers in the retail space. Who has the right strategy to capture consumer dollars? It also will look for trends in consumer spending and how that will impact the economy.
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With so many workers receiving pink slips this holiday season, can you still expect to see a gift on your desk this holiday season?
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Well, maybe.
About 29 percent of offices will be giving gifts to their employees, but this is 3 percent MORE than last year, according to the Battalia-Winston annual corporate holiday survey.
Why the rise in gift giving during such tough times? Well, a small gift could be a replacement for the office party that isn’t being held this year.
For a company facing uncertain times, a $20 gift for every employee is a much better choice than a party, which might cost $100 dollars per person.
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The survey found the most popular presents were gift cards (55 percent); edibles such as popcorn, candy, and cookies (38 percent); tickets to events (14 percent); general gift bags at parties, for those lucky enough to get both (8 percent); or company products (5 percent). Alternative gifts included alcohol, dinner at the CEO’s house, or personalized stationary.
Most gifts are being given to “those who earn less, particularly support staff that work hard to make your job easier, and who are likely feeling the pinch even more than you are,” said Michal Ann Strahilevitz, a marketing professor at Golden Gate University in California.
She also noticed the trend toward gift cards, which allow people to get what they really want rather than a generic gift. Gift cards given out early can also help those who are struggling to do holiday shopping for their loved ones, she said.
But Steve Slagle, president and CEO of the Promotional Products Association International expects gift cards, after years of growing popularity, will lose their luster this holiday season. He expects gift givers will be hesitant to purchase gift cards in these tough times.
This is because consumers know that if the retailer is forced out of business, both the buyer and recipient of the card are out of luck, he said.
According to Slagle, popular alternatives are desk accessories and consumer electronics such as digital picture frames and smaller, inexpensive digital cameras.
Accessories for cameras, cell phones, and Blackberrys are other common, useful gifts. These are practical, and won't break the company's budget.
It also speaks to another trend. Rather than doing away with gifts all together, employers are opting to give smaller, more practical gifts, Slagle said. They know how important it is to offer recognition and reward to their employees, especially now.
Still, less than a third of companies are offering presents to their employees. Blame dwindling budgets, or a sense of propriety. At a time when jobs are being cut and businesses are crumbling, who really feels like celebrating?
As Jo Bennett, a partner at Battalia Winston points out: “The real gift this year is getting to keep your job.”
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Questions? Comments?
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Data is a real-time snapshot *Data is delayed at least 15 minutes