by Leo Jakobson | November 06, 2017

3) What is your company's annual budget for merchandise awards in 2017?

Less than $10,000  43.3%

$10,000 to $24,999  17.0%

$25,000 to $49,999  6.7%

$50,000 to $74,999  5.6%

$75,000 to $149,999  7.0%

$150,000 to $249,999  4.8%

$250,000 to $499,000  4.1%

$500,000 to $999,999  2.2%

$1,000,000 or more  9.3%

         

4) How does your company's annual merchandise awards budget compare to last year?

Up to 5% increase  21.1%

5-9% increase  9.3%

10-24% increase  5.9%

25-49% increase  1.5%

50%+ increase  3.3%

Same/No change  50.0%

Up to 5% decrease  3.0%

5-9% decrease  3.0%

10-24% decrease  1.5%

25-49% decrease  0.4%

50%+ decrease  1.1%

     

5) What percentage of your company's overall annual budget for incentive and recognition rewards is allocated to merchandise awards?

10% or less  64.8%

11-25%  19.1%

26-50%  5.6%

51-75%  5.6%

76-99%  3.7%

100%  1.1%

     

6) On average, how much will you spend on merchandise awards per recipient in 2017?

Under $50  37.0%

$50 to $99  27.4%

$100 to $199  13.0%

$200 to $499  11.5%

$500 to $999  5.2%

$1,000 to $1,999  1.9%

$2,000 or more  4.1%

     

7) How much of a change is this from last year?

Up to 5% increase  16.8%

5-9% increase  6.7%

10-24% increase  4.1%

25-49% increase  1.9%

50%+ increase  3.7%

Same/No change  60.4%

Up to 5% decrease  2.6%

5-9% decrease  1.5%

10-24% decrease  0.7%

25-49% decrease  0.0%

50%+ decrease  1.5%

     

8) Which of the following audiences do your merchandise awards target?

Consumers, customers  52.5%

Salespeople  50.2%

Non-sales personnel  37.6%

Dealers, distributors  14.5%

Other  7.5%

     

9) What objectives do you set for using awards?

Employee recognition  58.0%

Build customer loyalty  40.0%

Increase sales  38.8%

Build morale, Job satisfaction  43.1%

Increase market share  15.3%

Improve customer service  24.3%

Improve employee health, benefits  7.8%

Recruitment and retention  17.6%

Build traffic to website  7.1%

Improve employee loyalty  25.1%

Thank employees, client gifts  51.0%

Service awards  29.0%

Introduce new products  9.0%

Foster teamwork  15.3%

Sell new accounts  10.2%

Improve safety  7.5%