As people switch to online shopping mode, City shopkeepers offer huge discounts to survive
Srinagar, Feb 03 (WD):
Traders in Srinagar face declining footfall and a 40% drop in sales over the past few years, mainly due to the rising preference for online shopping, exacerbated by challenges from the ongoing Smart City project.
Asif Habib, a Goni Khan shopkeeper, highlighted the struggle, stating they offer significant discounts to attract customers amid the online shopping trend.
Renovation in the Smart City project and the convenience of online shopping have contributed to the decline, with many shopkeepers reporting similar challenges.
Adil Nazir, selling female suits, emphasizes survival by keeping minimal profits and offering substantial discounts.
Nighat Ara, a resident, acknowledges the transition, citing time and energy savings with online shopping, and President of Kashmir Trade Alliance, Ajaz Shahdhar, notes the impact on the local economy due to reduced purchasing power.
Javed Ahmed Tenga, President of Kashmir Chamber of Commerce, indicates a global trend with online shopping impacting markets worldwide, expressing hope for better times ahead despite current challenges.—(WD)
