Pandemic dims Diwali sparkle for traders

Ajay Joshi

Tribune News Service

Jalandhar, October 25

This is the time of the year when the probable of raising profits is about to unfurl. On the contrary, due to the pandemic, the peak season of profit-making this year is apparently witnessing a huge loss. The financial slump triggered due to the virus has majorly hampered the festival spirits of shopkeepers ahead of Diwali, as the demand in the market has declined by 40-50 per cent.

After having suffered losses during the lockdown, the shopkeepers were expecting to see a sizeable expansion of domestic consumption by the approaching Dasehra or Diwali, however, they are still awaiting some presence in their shops. Suresh Gupta, general secretary, Jalandhar Electricity Traders Welfare Association, who himself is a wholesale and retail dealer of electricity appliances, said, "The business is still on standstill. This time there is no excitement in the market and no investment. The retailers are very apprehensive before making any kind of purchase as they don''t want the goods purchased in bulk for Diwali sale would remain stored in the shops. Presently, we are witnessing sluggish economic activity, and the investments have dipped to 20-30 percent.”

Last year, by this time, the retailers and small shopkeepers would make their demands in advance. Payments also used to be made beforehand to ensure that the products reach in time. However, these days, they are very careful before striking a deal for many had already gone through a cash-curtailing period during the lockdown, and recovery is still impending.

Seems as if it is going to be a dark Diwali for most of the traders at Phagwara Gate Electricity Market; no glitters, no chandeliers to their content have been sold. As customers are happy to use last year''s lights and lamps and they are estimating it to be lowest profit season ever.

Amit Sehgal, president, Phagwara Gate Electricity Market Association, said, whether it''s a customer or retailer, the main focus is on buying only the selective items. "While retailers are confused weather to place the demands or not and customers are only drawn to essential goods,” added Sehgal.

Likewise, Suresh Kumar Mehmi, owner of Mehmi electricals, Nakodar road, stated that the sale is definitely slow as only 50 per cent of customers are there in the market. “Till last year people used to buy goods two-three months prior to Diwali but there was no such frenzy period this time around and physical store owners were not sure of the expected sale,” he said.

Perhaps, one can surely expect gifts

While the sale of electrical and decorative goods is sluggish, the expectation of gifts from their loved ones is the same. Ajit Mandal, owner RCMP, said that though the income of people remained affected due to the Covid, the demand of gifts hasn’’t been much impacted. “The demand for gift items is slowly picking pace and we are hoping that the sale would gain normalcy by the time Diwali arrives,” added Mandal.