Srinagar, Apr 8: As the auspicious occasion of Eid-ul-Fitr approaches, Kashmir’s markets are bustling with activity as residents flock to shopping centres to make their festive purchases. With the festival anticipated to be observed on either Wednesday or Thursday in Jammu and Kashmir, the rush for bakery products, mutton, and garments has surged significantly.
In anticipation of Eid-ul-Fitr, major markets in Srinagar and other districts have been transformed into vibrant hubs adorned with colourful displays of clothing, toys, and crafts.
Mannequins adorned in traditional attire entice customers to partake in the festive shopping spree, adding to the celebratory atmosphere.
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 including Jamia Masjid, Goni Kahn market, Sairabal, Lambert Lane, and Batamaloo, along with district headquarters, 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 Aijaz Shahdhar 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, This heightened activity has not translated into brisk business.”
He attributed this trend primarily to the reduced purchasing power among the populace.
Shahdhar highlighted that while the demand for mutton, bakery, and confectionary items remains robust, similar to previous years, the overall demand for goods falls short of pre-COVID levels.
“This indicates a lingering impact of the pandemic on consumer spending habits, with certain sectors of the market experiencing subdued demand compared to pre-pandemic times,” he said.
Batamaloo Traders Association President, Peer Imtiyaz expressed concerns 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.
Imtiyaz emphasised that the rising prices of commodities were a significant factor contributing to the decreased demand observed in the market.