Slump in markets- Online shopping, possible recession impact trade in Kashmir valley: Traders
Srinagar: Markets in Srinagar and elsewhere in the Kashmir valley lacked the usual hustle and bustle ahead of Eid-ul-Zuha as the sales remained sluggish in view of subdued shopping.
The markets in and around the Lal Chowk city centre here witnessed dull sales, and with just one day left to Eid, the excitement associated with Eid shopping is missing, traders said.
The markets, especially the shops dealing with bakeries, confectioneries, readymade garments and crockery stores, which used to witness a heavy rush of customers before Eid, experienced sluggish sales.
The market is about 80 per cent down from what it used to be before the Eid festivals, vice president of the Lal Chowk traders association, Suhail Shah, told PTI.
He said the footfall of the customers is just like normal days.
“In fact, the sales are about 60 per cent down compared to Eid-ul-Fitr earlier this year when the markets witnessed a huge rush,” he added.
Shah said there were several reasons for the dip in the sales.
“Online shopping is one reason. Another is that it seems we are going through recession. Also, I think we are going through the impact of COVID now,” the trade leader said.
The city centre and the adjoining areas also witnessed traffic jams even as more traffic police personnel had been deployed to manage the traffic.
Markets in downtown — the interior areas of Srinagar — also 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, rendering them unmotorable for the customers, which has hit their business ahead of Eid.
Srinagar’s largest sacrificial animal market in the Eidgah area of the city and other places also witnessed low-key business activity, even as a variety of elite non-local sheep breeds have flooded the valley.
There are several non-local breeds like Kajuwala, Jaisalmeri and Marwari, which have been imported to the valley from other states of the country. Other animals like camels and buffaloes are also there, but there has been a slump in their sales too, the traders said.
Press Trust of India
