Shop Talk

8220;Diwali is the peak time for the sales of garments, clothing, electronic goods and even precious metal, and even an average buyer adds this expenditure to his budget. But this year, the sale suggests that the business is going through a bad phase in every market,8221; says Bharat Ranka, of National Fabrics on M G Road. 8220;Even though people are buying new clothes, the business has slid down heavily. It is almost 40 per cent less compared to the sales of last year,8221; he says.

8220;The boom of festive season seems to have slacked as sales are just like any other ordinary day,8221; says Smita, owner of an artifacts shop in Camp, who blames the slump in economy for the depletion of business in the various stores. 8220;We feel that it8217;s the recession in overall economy that has affected the purchasing power of the people which in turn has affected business everywhere,8221; she adds. 8220;In comparison to the number of buyers that we had last year, this time we have less footfalls. Sales are not very good during Diwali season,8221; says Feroz Sheikh, sales manager, Hiroli8217;s Nazakat and Larry Aanandani of Royal Lady garments in Clover Centre.

The scene is similar in the shops of the otherwise busy Laxmi Road, which is the shopping destination of middle-class and upper-middle class buyers. 8220;Recession is not only in the share market but it8217;s the overall economy that has depleted. Sales are not as how we had experienced last year,8221; says Amol Pethekar of Prakash Departmental Stores. But some shops seem to do fairly well. 8220;The boom period of Diwali may not be there but there are sufficient sales, better than ordinary days. We are expecting better sales till Sunday,8221; says manager of Family Shoppee on Kunte Chowk.