Industry Outlook for 2024: Merchandise, Gift Cards and Event Gifting

This report presents the industry outlook for 2024 regarding merchandise, gift cards, and event gifting. The findings indicate a generally positive outlook, although economic and labor market conditions are beginning to affect optimism among third-party respondents. Budgets for merchandise, gift cards, and event gifting are expected to increase, with corporate respondents showing stronger expectations than third parties. The survey, conducted in October 2023, included 193 North American and 209 European participants, primarily corporate program owners. The report highlights a decline in optimism regarding the US economic outlook, with 58% of North American respondents expressing a strong outlook, a decrease from the previous year. In contrast, European respondents maintain a steady positive outlook. The report also discusses the impact of the regulatory environment on non-cash programs, noting a decrease in optimism among North American respondents compared to their European counterparts. Additionally, program cancellations have declined in both regions, indicating a stabilizing trend in non-cash reward programs.