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Description: The Incentive Federation promotes, protects, and researchs the optimal use of incentives, rewards, and related promotions in business.
The 2022 Incentive Marketplace Estimate Research Study released by the Incentive Federation (IFI) reveals that 84% of U.S. businesses spend $176 billion annually on award points, gift cards, trips and travel, merchandise, and experiential rewards to reward sales staff, employees, channel partners and customers.
IFI’s study shows the non-cash incentives market grew a remarkable 49% since the last market estimate study in 2016. In addition, 92% of companies with revenues of $5 million or more use at least one form of non-cash incentive program. Gift cards , including digital gift cards, are most prevalently used in all programs, with A ward Points the second most used in three of four program types. Trips and travel are used as rewards in sales incentive programs and channel/distributor/partner programs more often t
The study, conducted in May/June 2022, sought responses from companies that use incentive tools and services such as award points, gift cards, travel and trips, merchandise (both branded and logoed) and experiential awards (which were included for the first time in this latest study).
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