Subscribers

Gift companies report brisk orders for CNY hampers

But they expect slimmer margins due to high costs

[SINGAPORE] It seems corporate budgets for gifting have held up this festive season. Based on hamper orders up to the third week from Chinese New Year, gift companies have either seen increases in sales or are expecting to maintain their sales figures from the previous year.

Noel Gifts International is expecting a 3-5 per cent increase in sales revenue. "Although Chinese New Year is nearer this year, orders have actually been coming in immediately after Christmas," said Jess Chan, advertising and promotions manager.

Similarly, Humming Flowers & Gifts, a subsidiary of Noel Gifts, has seen a 5-10 per cent increase in sales from the past year.

"Sales is closely linked to the economy, it's a reflection...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes