alone, corporate gifting is expected to reach $300 billion by 2025. As I said earlier, gifting has the power to establish deep connections, which ultimately leads to better brand loyalty and increased retention.ĭrenik: What does the future hold for &Open and gifting more generally? Businesses are powered by people, so these relationships really matter. Employees want to know that their contributions are valued, partners want to know they’re important to your success, and customers want to know their business matters to you. Loyalty matters more so than ever before, especially during a recession, and appreciation has become an expectation in the business world. It’s more about implementing a strategy for it and using smart tools, like &Open, to make it more impactful and cost effective. If a company can’t set aside funds for gifts, there are other ways to show appreciation like giving employees an extra day off in the new year or sending personalized digital holiday cards.ĭrenik: Why is it an important business function that leaders need to implement? Additionally, the majority of our gifts are under $50, though we offer a large selection of choices across different price ranges, all responsibly sourced from exceptional vendors and best in class producers. It’s a flexible solution, with no annual contract commitment or SaaS fee. Our newest marketplace, On-Demand, was built precisely so companies of any size, including small and medium sized businesses, can easily send gifts whenever they want and pay as they go. Start by determining your gifting budget and then finding thoughtful tokens of appreciation that fit within those constraints.įinding a gift doesn’t have to be difficult - that’s the whole reason we started &Open in the first place. Legge: The idea that gifts need to be expensive to show someone they matter isn’t true. It’s this really simple, ancient human gesture that shows people they are valued and that they really matter.ĭrenik: In the current economic conditions how can companies do this without it being a large expense? Numbers aside, when gifting is done well, it’s very powerful in establishing a connection with your teams, especially when it's unexpected. One of our clients, a furniture retailer, saw a 200% return on their investment and another, a travel platform, saw a 28% increase in retention among their customers. Legge: Our clients have all seen positive, quantifiable impacts on their bottom line in the past year. People want a little choice laced with care and thoughtfulness.ĭrenik: What impact does gifting achieve for your clients and their teams? If you’re unsure what gift will resonate most, sending three different but excellent options will ensure they find something they love. To further our goal of offering customers choice, we allow senders to select up to three different options for the recipient to choose from. As consumers are highly conscientious of supporting businesses that align with their values, our filters also let you search by sustainably sourced brands, minority-owned companies, or search by location to find locally sourced vendors. We offer physical options like artisanal foods and handcrafted homeware, digital options like a Masterclass subscription for a philosophy course, or the gift of a donation to a charity like Amnesty International or Black Girls Code. To start, we have filters that let our customers easily choose from gifts based on different attributes and values. Prosper - Holiday Gifts Want To Receive Prosper Insights & Analytics Anyone can go online, order something, put it in a bag and give it to their staff or clients but when thought comes into play, it changes the entire story. Legge: The key to effective gifting is thoughtfulness. It’s important to remember that business relationships need just as much care and nurturing as personal ones.ĭrenik: How does one gift effectively and responsibly? Be it employees, clients, customers, and business partners, sending a gift has an intangible effect that fosters connection. To build true loyalty, companies need to focus on establishing meaningful relationships with their stakeholders. Now more than ever, relationships have become transactional. It’s so important to show people that they’re appreciated, especially during this time of the year. We all know how it feels to receive a thoughtful gift - it shows that someone took the time to think about us and let us know that we matter. A connection is qualitative, not quantitative, and while gifting is as old as sin, as a means of communication, it’s more powerful today than ever before. Jonathan Legge: We live in a fractured, hyper digital world and there are a multitude of means to connect.
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