Corporate Gifting

How generous were they this Diwali?

Published: Nov 25, 2010

mg_39352_ammunition_280x210.jpgDiwali, for the corporate world, was truly the season to be jolly this year. From our contacts around the country, we learn that companies increased their spends on Diwali gifts by as much as 50-70 percent.
Of course, one must remember that last year’s spending was abnormally low, thanks to the R-Word.

Last year, spends across sectors on corporate gifts (for customers as well as internal gifts for employees) were in the range of Rs. 150 - Rs. 300. But this year it has gone up to Rs. 300 - 550.

And you can bet the financial sector is feeling its oats again. From being the gloomiest sector last year, this year it was the most generous, spending an average of Rs. 600 per gift for employees and customers. (Bubble, anyone?)

IT was in second place, spending between Rs. 300 and Rs. 350. Its impact on the business wasn’t insignificant, because, as Mukesh Bansal, CEO, myntra.com, a corporate gifting Web site, says, “IT budgets are lower than the financial sector, but they have the volume, in terms of employees.” Telecom, FMCG, and manufacturing followed close behind IT.
All very rosy, yes?

But we can’t help thinking most of those people would have preferred a good old-fashioned Diwali bonus.

(Research: Nilofer D’Souza)

(This story appears in the 03 December, 2010 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)

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  • Mahima123

    Corporate gifts should be useful, elegant, practical and timeless. It should include a sophisticated, advanced and useful item to make your employees happy. Previously, a box of dry fruits, chocolates were usually used to gift, but the trend has been shifted to the technical gadgets like digital diary, power bank, bluetooth speaker, retro handset, mobile pen drive and many more. Among, the most recommended and useful device can be a power bank.

    on Oct 2, 2015
  • Techmighty

    No diwali gift for TechMahindra employees this time :(

    on Nov 25, 2010
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