Holiday Budget Considerations for Businesses

Determining how much money to set aside for holiday gift giving is an important factor for every business. Those with a dedicated marketing team may take care of this consideration for the company. Smaller businesses, especially new ones, can easily overlook the importance of setting aside money for holiday gift giving.

festive martini glass with cookies

How Many People?

First, the business needs to decide how many people will be gifted. The number of people you plan to gift will influence the dollar amount spent per person. Research shows the average price per person for most corporate gift giving ranges between $25 and $50. It’s also important to keep in mind some companies will not allow employees to accept gifts, or they may have a limit on what they are allowed to accept. A good choice, if you are concerned about what clients might be able to accept, is a corporate food gift. This is typically a reasonably priced way to thank clients.

Employees and Vendors

For employees, you may choose to budget a little less or the same. Finding a gift that works for employees and clients could help you receive a volume discount from a vendor. Your vendor will be more than happy to go over some choices and help you decide whether multiple gifts will be needed or if one will work for your entire gift giving needs.

If you have a relationship with your vendor, you may be eligible for an affinity discount, so be sure to ask. You may also save money by buying your gifts ahead of the holiday season. Sometimes, you can hit on a gift that can be used for more than one occasion, which would probably make your marketing staff happy.

The Thank Tank specializes in finding the perfect favors for all your gratitude gift needs. If you have a budget but no ideas on where to start, The Thank Tank’s dedicated team of gift specialists can help you find exactly what you need and take the stress and confusion out of gift giving.

Click here for more corporate gift ideas.

Additional resources:
4 Ways to Get Vendor Discounts
How Much Should You Spend on Business Gifts?
Christmas Gift / Holiday Spending Budget

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