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RRN: Incentive Travel Market Estimate...Promotional Products Impact...Brand, Incentive Company Absence

Allied Market ResearchHere’s a roundup of surveys and analysis in the incentive, rewards, and recognition field.

Allied Study Puts Worldwide Incentive Travel Market at Over $42 billion
Quality Logo Products Survey Correlates Promotional Products Gifting With Pride
Brands, Incentive, and Recognition Companies, Now a Minority at the Top Industry Event

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A recent research study estimates the size of the incentive travel market...A survey of promotional products as gifts highlights their potential impact on or correlation with retention...Leading brands and many of the incentive and recognition leaders are absent from the leading US industry event.
 

Allied Study Puts Worldwide Incentive Travel Market at Over $42 billion


According to a new report published by Allied Market Research, “Incentive Travel Market," the worldwide incentive travel market size was $42 billion in 2021. The company estimates annual growth of over 12% between 2022 to 2031 to reach $216.8 billion. The report defines incentive travel as “perks provided by corporations to the top performing employees purely on merit basis.”
 

Quality Logo Products Survey Correlates Promotional Products Gifting With Pride Quality Logo Products

 
Based on a survey of 5,000 employees who have received promotional products by Quality Logo Products, an Illinois-based promotional products supplier, “73% of people believe company promotional products contribute to a sense of belonging or pride within the company. An additional 60% say receiving these gifts positively impacts their overall perception of their company.”
 
The study finds that people who receive these gifts stay with an organization 1.5 years longer than those who don’t. “When it comes to staying with a company, 41% of people who have received gifts say it is likely they will still be working there in two years....Overall, 88% of workers who have received promotional products as gifts have spent 15 years or more working for their company.”
 
Pen and paper, apparel and technology are the most liked categories for promotional products among workers, the survey finds. Of the respondents, 69% of people say they wear or use company-branded items while not at work.
 

Brands, Incentive, and Recognition Companies, Now a Minority at the Top Industry Event IMA

 
There was a time when brands, incentive, and recognition companies dominated participation at the annual Incentive Marketing Association conference, this year being held in New Orleans, July 15-17.  This is the incentive industry’s leading worldwide event. Out of a robust attendance of over 300 people, only about a dozen represent incentive and recognition firms, and only about four represent brands. The vast majority are gift card and related suppliers. The issue of why so few brands now actively participate in the incentive marketplace was recently addressed in a recent RRN article: Scott Kooken of Links Unlimited: How the IRR Industry Set Itself Back and What Can Be Done About it.
 

How RRN and Brand Media Coalition: Your Partner in Success in Incentives, Rewards, and RecognitionEnterprise Engagement for CEOs

Published by the Enterprise Engagement Alliance at TheEEA.org

  • The only weekly news, how-to and resource publication of record for the Incentive, Rewards, and Recognition field.
  • The only marketing agency focusing specifically on the IRR and broader engagement marketplace.
Contact Bruce Bolger at 914-591-7600, ext. 230 or email Bolger@TheEEA.org when you want to get to know or get known in this growing $176 billion marketplace.

The Industry’s Only Combined Media Platform and Marketing Agency to Help You Expand Your Business Enterprise Engagement: The Roadmap
 
  • All the industry news, research, announcements, and how-to articles read by over 20,000 end-users in sales, marketing, and human resources; incentive, recognition, loyalty and promotional companies, as well as marketing and human resources agencies, seeking to enhance performance through effectively designed incentive programs.
  • Unparalleled business development services for engagement, incentive and incentive travel, recognition firms; brands, gift cards and master fulfillment companies, and technology firms, featuring ROI-based business development strategy design and ongoing digital and social media and e-newsletter communications to help marketers profit in the coming era of cookie-less marketing. 
  • Unique abilities for solution providers to sponsor authoritative, evergreen content directly related to what they sell through the EEA’s Effective Practices series on articles in our media platforms.
  • EEA YouTube Channel with over three dozen how-to and insight videos and growing with nearly 100 expert guests.
  • Access to new technologies from EEA preferred solution providers enabling brands to create their own points-based or transactional redemption site.
  • Unparalleled expertise in program design, return on investment measurement, reporting, and prescriptive analytics.
Click here for complete information on all our services. 
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