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Thursday, February 25, 2021

8 Essentials of Buying Corporate Gifts

At certain times of the year, company gifts are presented as a necessary gift for a new supplier, a gift sent as appreciation to the customer’s business, as a gift to employees and managers, and the list continues. If you give the wrong gift, you can put it in the lower drawer. Even worse, a wrong gift can upset someone. The good news is that there are ways to choose a gift of appreciation and strengthen your relationship.

You can purchase online and retail products, making it easy to purchase the perfect company gift for your customers. However, choosing a variety of gift ideas comes with a dizzying choice. Before you find the perfect company gift for your customers, you need to know the essentials of buying a company gift.

Elements of Startup of a New Business

According to the OPEN of the American Express Semi-Annual Small Business Monitor, the best corporate gifts are:

  • Card or Calendar (49%)
  • Gift certificate from a retail store or restaurant (26%)
  • Company brand items (23%)
  • Fruit or food basket or charitable donation (18% all)
  • Flowers or plants, wine or alcohol (10% bundle)

Before you run out of “try and true” corporate gifts and buy them, consider these 8 essential things to buy a business gift.

Check company policy

Many companies and government offices have gift policies that limit or prohibit gifts in the dollar value of gifts. Check with the recipient to see if gift giving is restricted.

Desired decision

Knowing what to buy corporate customers is the biggest challenge in buying business gifts. In most cases, it is difficult to get to know your customers personally. The best way is to call your customers, ask them what they like, hobbies, etc., and get great ideas on what to buy.

Consider cultural differences

Each country and culture has rules for buying company gifts. In China, for example, a gift should not be wrapped in white because it symbolizes death.

Pursuit of quality

All business gifts you send are reflected in your company image. Avoid gifts of poor quality that can damage the image. Buy quality products without losing your budget.

Use of handwritten cards

In this hallmark era, simply sending gifts and cards with signatures is too easy. Add a handwritten note to share your thoughts to make a lasting impression.

Spend on packaging

Gift packaging is just as important as choosing the right company gift for your customers. Spend time and money on packaging to reflect your value for customer relationships. If you don’t have the talent or time for gift wrapping, use the many gift wrapping services offered by retail and shopping malls.

Personally provided

If your list of business gifts is not too large, consider personally passing the gift to the intended person. Gifts given personally remain our top priority with our customers.

I know the tax deduction

Business Gifts in the U.S. are tax deductible up to $25 per person per tax year. This does not include incidental things like gift wrapping or mailing. Different rules may apply depending on the type of business structure (e.g. partnership). Be sure to review IRS Publication 463.

Corporate gift offerings are an opportunity to connect with customers, strengthen relationships and share holiday cheer. Making a donation attitude makes buying corporate gifts less stressful and more fun.

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