Markets in Srinagar and other parts of the Kashmir valley lack the usual hustle-bustle ahead of Eid-ul-Fitr with many traders staring at losses due to sluggish sales during the festival.
The Eid-ul-Fitr festival, which marks the culmination of Muslim fasting month of Ramzan, will be celebrated either on Monday or Tuesday depending on the sighting of the crescent on Sunday.
However, markets in and around the Lal Chowk city centre — the Srinagar’s commercial hub — have been witnessing muted sales.
Local traders attributed the lack of enthusiasm among shoppers to the rising trend of online purchase as well as consumers’ concerns over increasing prices.
Traders say the usual hustle and bustle associated with Eid shopping is missing this time and the overall sales have declined by around 70 per cent.
“The market is about 70 per cent down from what it used to be before Eid festivals,” vice president of the Lal Chowk Traders Association Suhail Shah told reporters here.
He said the market outlook on Eid was “worse than normal days”.
The markets, especially the shops dealing with bakeries, confectioneries, ready-made garments and crockery, which used to witness a heavy rush of customers before Eid, are experiencing sluggish sales, he added.
“Every sector is affected. The sales were sluggish even in bakeries and confectionaries this year. Ready-made garment dealers are the most affected.
“To some extent, online shopping is to blame for that, but overall, the purchasing power of the people has decreased,” Shah said.
Earlier, long queues of people were seen in front of popular bakery shops in the city but those shops are also witnessing a dip in sales, traders said.
“The sales are down from last year. There is no sign of the usual shopping zeal associated with Eid,” a bakery shop owner in Lal Chowk area said.
Shah said while there is an economic distress, the market seems to run only because of the salaried class.
“It is the money of the salaried class that is moving around. Otherwise, there is an economic distress and the businesses are suffering,” he said.
Meanwhile, traffic police personnel were deployed in large numbers in the city and in other district headquarters to manage the traffic movement as there have been reports of traffic snarls in several parts of the valley. — (PTI)
