By The IRF • JAN 28, 2021
Hello B2B Incentive & Rewards community!
The Incentive Research Foundation has published:
“The IRF 2021 Trends Report” *.
During the pandemic, travel incentives declined. Consequently, the use of gift cards and merchandise as reward options increased.
Gift cards and merchandise usage is expected to rise during this year. Domestic and regional travel incentives and events, primarily in AU and NZ, are expected to return. However, securing venues will be challenging for organisations with budgets committed to resuming events in 2021.
Another challenge will be incentive goal setting due to how last year skewed year on year data in many industries. While some will see a fallout for 2021 programs, other industries that provided critical products and services during the pandemic will have a larger pool of participants to reward.
Traditionally top performers have been rewarded with group travel and high-value merchandise. However, smaller reward amounts can be used to “move the middle performers” (often 60% customers/partners) and raise the overall sales performance of an organization.
To discuss your current company’s situation and explore how Merchandise, Visa Prepaid Gift Cards, or Travel Incentives & Events can work for you during 2021 and 2022 contact us.
To access the IRF report click here