Experiences – untapped opportunity for corporate gifting
Experiences – untapped opportunity for corporate gifting
Manik Bhatia , Senior Analyst at
Coresight Research , says experiences offer a huge untapped opportunity for organisations , as they deliver multi-fold benefits , and he believes they will continue to grow in importance over the coming years .
“ First , group events can enhance team bonding and foster oneness among employees . Second , it provides newer opportunities for employees to showcase their strengths / talent outside of work and can be a huge morale-booster . Finally , they can help employees with their worklife balance and provide opportunities to reduce stress .”
Mintel ’ s recent shopping report indicated that 66 % of people aged 25-34 think experiential gifts are better than tangible items and multiple gifting platforms already offer experiences and on-demand services . Among these , Alyce ( from historical tours to professional portrait sessions ); Tinggly , whose tagline is “ Give stories , not stuff ’ and which specialises in curated travel experience gift boxes ; and Blueboard , whose belief is that experiences contribute more to long-term happiness and do more to foster social connections than material goods .
Lou Elliott-Cysewski , CEO , Coolperx believes experiential gifts can “ absolutely work in corporate gifting ”, but says they have to be done right . “ You can ’ t abandon intentionality just because you ’ re not giving someone a physical item . Trying to get your team together for a cooking class or a virtual happy hour can feel like work if your culture isn ’ t already inclusive and your employers don ’ t feel valued .”
AI all use AI to analyse the digital footprint of individuals to suggest the most suitable gifts . A personalised list of items is then sent to the recipient from which they can then choose . Lou points to the ‘ gift of choice ’ as a trend emerging in corporate gifting circles . “ The reality is that it ’ s impossible to find one thing that all your different recipients will love . My recommendation is to give people three different gifts they can choose from , especially if your company is truly committed to reducing landfill waste and creating an inclusive workplace .”
Not only do recipients feel “ empowered , seen and supported ” when they get to choose their gift , but they get something they truly love – meaning that fewer gifts go in the trash .
“ A socially responsible gift can increase goodwill among your team by showing them that you care not only about them but also about society and the planet at large ”
Lou Elliott-Cysewski CEO , Coolperx
94 March 2023