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How To Reduce Cost Of Corporate Gifting Initiatives

07-12-2019 08:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Digitek

/ PR Agency: NewsPatrolling
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Digitek.net.in : Every year, many organizations spend lakhs of rupees on buying corporate gifts for employees. The budget of bigger organizations is even more, running into several crores. Though corporate gifting costs a lot, organization still undertake such initiatives as it is very helpful in boosting employee morale. However, that does not mean that organizations should not try to keep costs in check. Here are some useful tips that can help organizations reduce costs associated with buying corporate gifts for employees.]

Choose affordable, yet useful products: Corporate gifts for employees need not be expensive items. This is especially true for organizations with 100 or more employees. The focus should be on selecting things of daily use that employees or their family members might find useful. Things like power banks, mobile chargers, Bluetooth earphones, rechargeable batteries with charger, cables & connectors, USB card reader, etc. are quite useful and affordable as well.

Buy generic items instead of branded products: It is common knowledge that branded products are costlier than generic items. So, buying generic items can help you save money. Just make sure that you are buying from a reputed original equipment manufacturer (OEM) to avoid issues related to sub-standard quality. Once you receive the generic items, you can make them more presentable by adding your company’s name and logo.

Get quotes from multiple suppliers: To get the best price, you can request quotes from multiple entities. For example, if you need 100 Bluetooth speakers, make sure to contact at least 4-5 corporate gift suppliers. Some suppliers may be functional in your own city, but you can get quotes from national and international suppliers as well. Logistics has improved significantly and you can hire any corporate gift supplier that offers the best quality products at reasonable rates.

Negotiate rates: Always make it a point to negotiate before finalizing a deal. Explain to the vendor that your company is willing to provide repeat business, provided that the gift items are of good quality and affordable. Suppliers will usually be willing to reduce rates if they can be assured of repeat orders every year.

Organizations need to choose a credible corporate gift supplier, one that is willing to engage in long-term business relations and offer the best rates on the gift items. The supplier should also be able to procure any of the latest electronic gadgets, as per the requirement of the organization. Electronic gadgets are preferred by employees and they make for the perfect corporate gift ideas.

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