Kolkata, Apr 14 (PTI) After a lull in businesses for the last two years due to COVID-19, an annual stock clearance exercise by traders and jewellers before the Bengali new year brought cheer for them in West Bengal this year as people went on a post-pandemic shopping spree.
The run-up to ‘Poila Boisakh’, the first day of the Bengali new year, is traditionally a peak season for shopkeepers and accounts for one-third of their annual sales.
“This year is important as the nationwide lockdown in 2020 and the raging second wave of COVID-19 in 2021 had dampened our business prospects.
“This time, the revenue is nearly 60-70 per cent of the pre-pandemic ‘Chaitra sale’ but margins dropped significantly due to inflation,” said Asim Saha, a shopkeeper in Gariahat market in south Kolkata.
Major markets, like Burrabazar, New Market, Hatibagan, Gariahat and Jadavpur, in the city and also in districts were buzzing as shoppers were busy buying clothes, home decors and other items for their loved ones during ‘Chaitra sale’, the stock clearing offer at the end of an year.
“There has been a steady increase in footfalls in our store during this year’s ‘Chaitra sale’ from mid-March. The scene in the market is encouraging as people are found jostling in marketplaces to grab the annual offers by many traders like us,” said Subhas Modak, an owner of a garment shop in Shyambazar area in the northern part of the city.
Similar was the experience for Amit Rana, a garment seller in South Kolkata’s Jadavpur market as he was witnessing high customers footfalls.
“Customers are visiting our store but the volume of sales is less as compared to what we used to see in pre-Poila Boisakh period earlier. This is due to a price rise. We are unable to explain to our customers that our margins have squeezed this time despite the increase in prices,” he said.
“Wearing new clothes on Poila Boisakh is a tradition for Bengalis but I could not buy any gift for my two daughters on the last two new year occasions. I have suffered a lot due to the pandemic. But now I am happy as I will give new clothes to my wards this time,” said Sumit Hazra, a worker in a factory here.
National Hawkers Federation general secretary Shaktiman Ghosh said it is encouraging that traders are witnessing the rush of shoppers back in the market but their financial condition has not improved a lot due to the advent of e-commerce sales.
“At least 40 per cent of our market is lost to online retailers. Earnings have fallen as neither sales nor margins are at pre-COVID levels. Hawkers and traders are facing hardship due to their financial condition. They need working capital support to revive their businesses,” Ghosh said.
People are also flocking to jewellery stores ahead of this year’s ‘Poila Boisakh’ on Friday.
“Rising inflation and price uncertainty have led the consumers to make most of the offers that jewellers are offering as a part of the mid-festive sale. Interestingly, it is diamond jewellery, which is driving the overall sales of yellow and white metals,” said Sachin Jain, Managing Director, De Beers India.
As the price and demand are expected to surge during the wedding season, consumers are queuing up in jewellery stores to avoid further pocket pinch, he said.
“Young consumers are looking for diamond jewellery, accounting for close to half of the revenue generated during Chaitra sales,” he said.
However, small jeweller Sanjay Karmakar said sales are not so encouraging after gold price surpassed the Rs 50,000-mark per 10 grams.
Hotels and restaurants are also banking on the festive mood of the Bengali new year.
“The culinary offerings at ITC Royal Bengal & ITC Sonar present an unmatched cuisine repertoire in the city and the response to our Poila Boisakh offer has been good and in line with expectations,” said Gaurav Soneja, General Manager, ITC Royal Bengal. PTI BSM BDC BDC
