Festivals and special occasions are a time to give presents. Friends, colleagues, employees and business contacts are all on our gifting list. Selecting gifts is not an easy task, however. It demands time, the thoughtfulness and money. And so, experts advise sticking with a budget for your business gifting requirements to save money and effort.
Here we are with four cost-saving strategies for your business gifting requirements.
Prepare a list.
Preparing a complete list of your contacts for occasional business gifting is a crucial part. This list will let you minimize the expenditure on gift items and reduce the hassle. Make a list of your business contacts, employees, colleagues, and friends. Define a budget for your presents. Now divide the total budget by the number of people in the ‘gifting list.’ You will get an approximate idea of expenditure per head. It will allow you to choose appropriate gifts accordingly. Of course, some cost variations are to be expected individually.
Go for Bulk purchase.
Once you have the idea of ‘per head’ budget, decide on ‘what to give?’. It is suggested that you go for the bulk purchase of items to save significant costs. Example, if buying dry fruits, purchase them in bulk. Also, remember to compare prices online and offline. You can also visit bulk purchase websites online.
Choose ‘long-shelf life’ items.
It is essential that your gifts remain usable for a longer time. You should select items that have longer shelf life. Example, select chocolates or dry fruits packs over milk made sweets. Sweets cannot be stored for long as compared to chocolates and dry fruits. Also, exclusive festival items are costlier than ‘general’ gifting items. Say, a pack of ‘Kaju Barfi’ will be more expensive than a pack of 500 grams ‘Cashew nuts and almonds’. This tip will save your expenditure significantly.
Consider utility items and discounts.
It is always better to give gifts that can be utilized by your peers. It does not have to be consumable all the time. Pen drives, lamps, and other decorative items are equally suitable for festival times. Consider buying them in bulk and gifting them to your business peers. You will reap much better value for money in the long run. Such utility items are thoughtful presents and worth the expenses.
There we have four smart tips to save cost on business gifting requirements. Follow them according to your budget and keep your expenses down. An economical and useful item is always a wise choice for presents.