Huge rush in markets ahead of Eid, sales not up to expectations

MASROOR AHMAD

SRINAGAR: Markets in Kashmir were abuzz with activity on Tuesday as people in large numbers were out to shop for Eid-ul-Fitr festival, to mark the culmination of the Muslim fasting month of Ramzan.
According to officials, bakeries, confectioneries, mutton and chicken outlets, readymade garments and crockery stores witnessed a heavy rush of customers as Muslims started preparing for the festival. Some places in Kashmir even witnessed traffic snarls due to the Eid shopping rush, they said.
Traffic police personnel were deployed in strength in Srinagar and in other district headquarters to ease vehicle movement, the officials said.
However, markets in the downtown – the interior areas of Srinagar – witnessed sluggish sales due to the ongoing construction works under the Srinagar Smart City Project. The traders there alleged that many roads have either been dug up or blocked, which has hit their business ahead of Eid.
According to the traders the demand for edible items, particularly mutton, bakery goods, and confectionaries, has soared, leading to long queues forming outside retail shops catering to Eid-ul-Fitr celebrations.
Major markets in Srinagar district along with district headquarters across the Valley, witnessed a surge in footfall as eager customers thronged to make their purchases.
Despite the bustling activity, traders have voiced concerns over lower-than-expected sales and decreased business. While the demand for mutton and bakery products remains high, other sectors of the market are experiencing below-par sales.
According to traders, one of the contributing factors to this disparity is the rise of e-commerce, which has diverted a portion of local shoppers.
Additionally, skyrocketing prices have further hampered sales, with the government opting to eliminate price regulation mechanisms instead of decontrolling prices.
The combination of high prices and changing consumer habits has presented challenges for local businesses, impacting their sales during the festive season.
Kashmir Trade Alliance President, while commenting on the current situation in the markets, noting a discrepancy between increased footfall and sluggish sales, said, “Despite observing a rise in the number of people frequenting roads and markets. The heightened activity has not translated into brisk business.”He attributed this trend primarily to the reduced purchasing power among the populace.
He highlighted that although the demand for food items remains robust, as in previous years, the overall demand for goods is lower than pre-COVID levels.”This indicates a prolonged impact of the pandemic on consumer spending habits, with certain sectors of the market facing lower demand than in pre-pandemic times,” he said.
Traders Associations expressed concern over the government’s handling of essential item prices.
He criticised the decision to decontrol prices, stating that since this move, there had been minimal control over the prices of essential goods. He emphasised that the rising prices of commodities were a significant factor contributing to the decreased demand observed in the market.