Kashmir
Many traders are suffering losses due to lack of movement in all markets including Srinagar of Kashmir Valley before Eid-ul-Fitr. The holy festival of Muslims will be celebrated on Eid-ul-Fitr Monday or Tuesday. However, despite the festival getting so close, the sales are seen in Srinagar’s main commercial center Lal Chowk and its surrounding markets. Local traders blamed the concern of consumers over rising prices with increasing trend of online shopping for lack of enthusiasm among buyers.
Market demand declines by about 70 percent
Traders say that this time the movement related to Eid shopping is missing and business has decreased compared to normal days. Lal Chowk Traders Association Vice President Suhail Shah told, “The market has fallen by about 70 percent compared to Eid before Eid. He said that the market view on Eid was “worse than normal days”. He said that sales have decreased in markets, especially bakery, confectionery, readymade garments and crockery shops. He said, “Every field has been affected. To some extent online shopping is responsible for this. 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 city’s famous bakery shops, but sales are also seen to decline at those shops.
There is also a big decline in the demand for clothes
This year, sales in sales of readymade couples have declined by about 75%. Due to this, the business community is facing huge difficulties. Shops are closing due to sales reduction and many retailers are unable to pay their dues. Local business businesses are struggling to remain in trend. Many shops are closing and the market is not bright, as used to be during festivals.
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