96% of Israeli manufacturers gave employees gift coupons for Passover this year. The average gift was NIS 540 per employee, 24% more than for Passover 2005, according to a Manufacturers Association of Israel survey. The survey found that 62% of manufacturers chose gift coupons on the basis of the size of the discount received, 24% chose coupons on the basis of the number of retain chains honoring them, and the remainder chose coupons on the basis of past experience and on retail chains operating in employees’ residential areas.
The survey found that manufacturers were in no rush to allow their employees to benefit from the coupons ahead of Passover, and use them for holiday shopping. 70% of manufacturers distributed coupons a week before the holiday, 26% two weeks in advance, and the rest of the holiday eve.
Manufacturers Association Made in Israel (Blue and White) council head Adi Livna, who is also CEO of Kitan, estimates the value of Passover gifts distributed among manufacturers’ employees at NIS 200 million, and the total value of gifts distributed among all employees at NIS 1.5 billion.
Livna added that if this year’s gift coupons were used to buy only Israeli-made products, 3,000 jobs could be created, including 600 in industry.
Published by Globes [online], Israel business news - www.globes.co.il - on April 11, 2006
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