Usually, as the year is running to an end, every major town and city across the country, especially Lagos, is flooded with hampers colourfully packed in different sizes, contents and prices ranging from N5,000 to N40,000 which serve mainly as end of year gifts to friends and relatives.
However, encomium.ng’s findings revealed that those dealing in the business regretted venturing into it in 2016 as majority of them ran at a great loss. No thanks to the recession which was at its peak then.
But this year, there are slight indications that there will be a change of situation this year as recession is slightly receding and prices of food stuff sliding down.
According to Kingsley Ubekwe, “The business was terrible last year. It was run at a total loss. If I had known, I wouldn’t have invested in it. But most of us looking at this year is that there’s likely to be high patronage because it’s like prices of some essential commodities have gone down a little. And when that happens, people can remember to give out during the season which of course has been the usual practice for years. I am just looking at what will happen, that’s why I have not put in too much money. If the demand is getting higher, I will bring in more.”
In her reaction, Kelechi Ezekiel also regretted investing in the business in 2016. She added she only took a risk going into it this year again.
“I regretted putting my money on hamlets last year. It was a bad business for all of us in the business last year. I didn’t even sell 10 per cent of what I displayed till the year ran out. I am not even so sure of what’s going to happen this year because since last week I opened the shop, no one has picked any of the hampers. I doubt it if the situation of last year is not going to repeat itself because recession is still very much around.”
– TADE ASIFAT