Festive Sentimeter: Mumbai’s Crawford Market vendors struggle with reduced consumer spending
Kanti, a vendor specialising in chocolates, expresses concern, noting, “Demand is not the same as last year; people are not buying enough. Dry fruits are okay, but chocolate sales are low.” His sentiments are echoed by another shopkeeper who lamented, “Business is down nearly 30% for us. People are coming to buy, but they are not purchasing as much as they used to.”
At first glance, Crawford Market appears lively, with shoppers weaving through stalls. Yet, beneath this vibrant facade lies a stark reality—shopkeepers report a noticeable decline in foot traffic compared to the previous two years. A significant factor contributing to this trend is the rising cost of living, which is squeezing consumers’ wallets and forcing them to re-evaluate their spending habits.
One fruit seller highlighted the impact of rising prices, stating, “Prices of fruit crates have increased. People are asking for the price and walking away.”
Ramzan Ali of New Chocolate Centre articulated a shared frustration among shopkeepers: “Expenses have increased for everyone, but salaries are the same, so how will people be able to spend?” This disparity between rising costs and stagnant incomes has led to a cautious approach from consumers, with many opting to limit their purchases.
The shift in shopping behaviour is further exacerbated by the rise of online shopping. Many consumers now prefer to make purchases from the comfort of their homes, turning to e-commerce and quick-commerce apps instead of braving the crowds. Shopkeepers are feeling the pinch of this trend, as online alternatives become increasingly appealing.
Despite these challenges, vendors remain hopeful that the upcoming wedding season will revitalise sales and bring some much-needed cheer.
First Published: Oct 31, 2024 12:09 AM IST
