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Saturday June 15, 2024

Eid sales decline amid economic pressures

By Ibne Ahmad
April 10, 2024
Families are busy in shopping for the Eid ul Fitr Festival at G-9 Markaz on April 9, 2024. — APP
Families are busy in shopping for the Eid ul Fitr Festival at G-9 Markaz on April 9, 2024. — APP

Eid shoppers have cut back spending on clothing this Eid season amid economic strains, including an upward inflation trend and increasing commodity prices. Retail sales of clothing items have dropped significantly this year compared to the last Eid season, traders say.

“Based on feedback from sellers of various markets wholesale sales this year have dropped 30-40% while retail sales have declined 20-30%. Traders say despite their efforts to attract customers with new products and promotions ahead of Eid, there has been a noticeable decline in sales and customer footfall this year,” says Alamdar Hussain. “Traders, who made huge investments ahead of the Eid season, now fear losses as huge stock of dresses remain unsold. This year’s sales have been very disappointing. Sales have decreased by a big margin this year”, says Shabbir.

“We are wholesalers and our sales are completed by 15 Ramadan. However, this year that did not happen. The condition of retailers across the country is worse compared to us. Many speak of a similar situation at their stores,” says Amjad Ali. “The number of customers visiting markets and shopping malls has dropped significantly. Mehdi Hasan, a sales executive at a fashion outlet says, “Usually ahead of Eid, this market is very crowded, which has not been the case this year.”

“Customer footfall has decreased in the market. Traders say people are cutting back on spending due to various reasons, including a rise in prices of daily essentials. Vendors at the market say in previous years they would get close to wrapping up sales by around 20 Ramadan,” says Fayyaz Ali.

“Despite economic pressures a festive environment in shopping was noticed at the busy markets including Sad­dar, Lalkurti, Commercial Market, Moti Bazar, Tench Bhatta, Peoples Colony, Raja Bazaar, and various other markets of the town,” says Zubaida Ali. “With less than a week in Eid-ul-Fitr, the residents can be seen thronging shop­ping malls and other city markets. People are seen rushing to buy dresses and household items.”