Kashmir's Eid Markets Witness Sluggish Sales Amid Economic Distress

Traders in Srinagar and Kashmir face severe losses due to a significant drop in sales ahead of Eid-ul-Fitr. The festival typically increases customer turnout, but this year, economic distress and the rise of online shopping have harmed traditional market sales, especially in specific sectors like bakeries and garment retail.

Eid-ul-Fitr, a festival that typically boosts market activity in Srinagar, is witnessing unusually sluggish sales this year. As traders brace for losses, the otherwise bustling markets are alarmingly quiet, indicating a profound economic distress across the region.

Local traders attribute the downturn in sales to a few key factors. Online shopping's popularity is increasing, drawing consumers away from traditional markets. Moreover, skyrocketing prices have stunted consumer spending power and enthusiasm, exacerbating the sales decline by 70% compared to previous years.

The situation is dire, with sectors such as bakeries, confectioneries, and garment retailers feeling the pinch most acutely. Without the usual pre-Eid crowds, businesses in these sectors are struggling to stay afloat during what is supposed to be a peak sales period.

(With inputs from agencies.)