EID UL FITR: Many traders are facing losses due to less activity in the markets of Kashmir Valley including Srinagar before Eid-ul-Fitr and sluggish sales during the festival. The holy festival of Muslims, Eid-ul-Fitr, will be celebrated on Monday or Tuesday. However, despite the festival being so close, sales are sluggish in Srinagar’s main commercial centre Lal Chowk and the markets around it. Local traders attributed the lack of enthusiasm among shoppers to consumer concerns over rising prices coupled with the growing trend of online shopping.
Market demand
Traders say that this time the hustle and bustle associated with Eid shopping is missing and business has also decreased compared to normal days. Suhail Shah, vice president of Lal Chowk Vyapari Sangh, told, “There has been a decline of about 70 percent in the market compared to before Eid.” He said the market scene on Eid was “worse than normal days”.
He said sales had declined in the market, especially at bakery, confectionery, readymade garment and crockery shops. He said, “Every sector has been affected. To some extent, online shopping is responsible for this. Along with this, the purchasing power of the people has also decreased.” Traders said that earlier long queues of people were seen in front of the famous bakery shops of the city, but those shops are also witnessing a decline in sales.
Big drop in demand for clothes
This year, sales of readymade clothes have fallen by about 75%. Due to this, the business community is facing huge difficulties. Shops are closing due to a drop in sales and many retailers are unable to pay their dues. Local businessmen are struggling to survive. Many shops are closing and the market is not as bustling as before.