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This is an archive article published on September 30, 2008

Shopping frenzy turns New Market plastic

With more disposable income in the hands of middle class people, shopkeepers of New Market are witnessing a rise in the number of shoppers using plastic money.

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With more disposable income in the hands of middle class people, shopkeepers of New Market are witnessing a rise in the number of shoppers using plastic money.

Rekha Hathiramani, proprietor of a children’s store in New Market, said in the last three years there has been a substantial rise in the number of people using their credit cards for shopping.

“Earlier, people used to carry cash for shopping and plastic money was used only by the rich. But now, most middle class families have credit cards — in fact, it has become a status symbol. Of course, people still pay in cash, however, this Puja there has been a definite rise in the number of people using credit cards,” Hathiramani said.

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Most of the big shops in the market have swipe machines for their customers. Rajesh Bathija, owner of a sari shop, said nearly 40 per cent of his customers prefer paying through credit cards.

“Out of 10 customers, four prefer credit cards. In a place like New Market that is considered as the shopping hub for middle class families, it is quite surprising to see so many people using credit cards,” said Bathija.

A spokesperson for Sanskriti, another shop in the market, claimed the equal number of shoppers are using credit cards and cash for purchases. In fact, a rise in the number of customers with credit cards left them no choice but to keep a swiping machine in the shop.

Gita Gurbani, proprietor of a toyshop, said that in comparison to the 20 per cent customers who use credit cards during non-festive season, nearly 50 per cent of people who walk into her store for Puja shopping use credit cards.

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“There is a lot more rush during Pujas and most of the middle class shoppers prefer credit cards over cash as cards are handy and hassle free,” said Gurbani.

It’s not only the big shops who are adapting to the new system of payment.

Many of the smaller shopkeepers admitted that those who do not possess swipe machines have to go to bigger shops to get the cards swiped.

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