Professionals working in the corporate sectors received lavish gifts this Diwali as compared to last year.
Bengaluru: Corporate gifting companies witnessed a 200 percent increase in their business during this Diwali. In 2020, all the sectors were affected by the COVID pandemic and corporate gifting businesses hardly received any orders from their clients.
Niranjan Shivanna, the founder of Fusion Events Corporate Gifting Services, said, “Yes, the business was affected a lot last year due to covid. We got very few orders. But this year, we saw some improvement in the business. We got good orders from many MNCs.”
Corporate gifting is a rapidly growing business in India worth about Rs. 12,000 crores, according to Technopak, a Business Management and Consulting firm.
This Diwali, many employees working within the corporate sector received a variety of gifts from their companies. These gifts included electronic gadgets and fancy food items.
“This year we got many gifts like a blender, Sony speakers, Puma’s hoodies and lots of chocolates. We also got some gifts before Diwali too. Last year it was more of food items but this year the gifts are expensive,” said Chandrani Sarkar, a Business Operation Analyst at Infoblox.
In 2020, amidst the fear of Covid- 19, many companies chose to gift online shopping vouchers instead of gift hampers and goodies because people were hesitant to exchange gifts.
Niranjan also mentioned that last year the orders which he got from the companies were mostly Covid Safety Kits that included steamers and oximeters.
Various companies prefer good quality and branded gifts to help keep their employees motivated and to promote their company’s name.
There are more than 200 gifting companies in Bangalore. This figure includes both large scale and small-scale businesses that provide gifting services to IT companies, Pharmaceutical Companies and any other companies that have more than 1500 employees.
There are still few small companies that had similar experience in terms of business when compared to last year. Though they are recovering slowly, they are optimistic as various occasions and events are lined up in the calendar.