Diwali this year is not fireworks for most Ahmedabad traders as sales have seen a considerable drop this festive season.
Despite price reduction of as much as 10 per cent compared to last year, traders reported a 20-25 per cent decrease in the sale of customary items like dry fruits.
While some traders attributed this trend to more conscious choice of buyers, others find recession as the reason.
A dry fruit merchant said, “There’s a sense of recession. The salaried class is awaiting salaries and bonuses, and MSMEs are settling dues. The sale of dry fruits and corporate gifting has been down 20-25% compared to last year.”
Some of the traders are switching to sweets and chocolates by ditching the dry fruit business. “It saves us 25-30 per cent of our budget, and our clients enjoy a change,” a seller said.
Hiren Gandhi, Secretary of the All India Spices Importers Federation attributed the slump to international geopolitics affecting Indian markets.
Many traders noted a trend of families choosing travel over traditional Diwali purchases such as sweets, dry fruits, and home decor.
Traders from sectors like garments, goods, crockery, etc. are complaining that the sales are less than last year. This is because people have limited budgets and they want to spend on their own experience rather than on traditional celebrations, many traders averred.