With the economy in the doldrums and businesses going into a conservative mode, the tradition of gifting during this Deepavali has nosedived, at least in the corporate circles. Public relations professionals, corporates and even small business owners claim that the practice has come down by at least 50% this year.
While sweets were traditionally given along with other goodies, awareness on diabetes and general health has brought an overall change in gift patterns with more people preferring nuts and other healthy snacks. But, there is a dip even on that front.
“The sale of gift hampers has definitely gone down. A major reason is corporates having drastically cut down on spending which has reduced the entire volume because they are not doing well. There is no growth for last two years. However, there are still three days to go for the festival and we hope sales pick up,” said Sunil Sanklecha, founder and managing partner, Nuts n Spices.
Kanika Subbaiah, founder, Cherry Tin, a corporate gifting platform, also concurred that there was less gifting this year. “It seems like very little gifting is taking place at corporate levels this Deepavali as everybody is cutting costs or reducing budget. Compared to last year, it has reduced up to 50 per cent. Since ours is an online business, our Deepavali happened a week ago and we are almost done with the sales for the festival,” she said.