Traders in Kochi, especially those dealing in textiles and white goods, are keeping fingers crossed as they wait to see how the Onam market rides out an unpredictable weather and competition from online sales platforms.
Traders say that good weather at home holds the key to drawing shoppers to markets and fair weather outside the State can keep prices in check as rain and gusty winds may trigger a shortage of vegetables.
‘Big threat’
The weather apart, new technology and online marketing companies have eaten into a large chunk of the old brick-and-mortar shop sales. This is felt especially in the white goods and textiles sectors, which play a pivotal role in the Onam market. About 40% to 50% of the expenditure by common people in a year takes place during the period between Onam and Christmas-New Year and the season of festivities is central to the State economy, says Martin Patric, economist.
He says that if the season sees a business dip of around 15% to 20%, it will have a big impact for the State as a whole. Though the State government has either disbursed or is ready to disburse both salaries and other benefits to government employees and pensioners, foreign remittances have been slowing over the years despite an expected increase during the Onam season.
A vegetable shop at Broadway in Kochi on Wednesday. | Photo Credit: THULASI KAKKAT
K.M. John of Kerala Merchants’ Chamber says that online sale is a big threat to both the textiles and white goods segments. Online sales have grown to about 40% of the market in a short span of time. “People now use showrooms as places where they come to check products they want to buy online,” he says adding that the government must come forward to protect the brick-and-mortar retail sector that employs thousands of people and supports a slew of ancillary economic activities.
Rajendra Prasad, a merchant in Kochi, says that the Onam market is yet to make itself visible this year. He adds that sales may be seriously affected. But with the Onam celebrations gathering momentum on Atham Day on Friday, the situation may change. He points out that this year there is a short period for shopping given that there is only about a week left ahead of Onam compared to last year when there was ample time for Onam shopping.
Vegetable prices
Vegetable merchants hope the weather conditions will not trigger a price spiral in the market as a dry spell in the farming areas in neighbouring States will keep the supplies steady. Wholesaler N.H. Shameed says that the prices of some of the key vegetable items have been seen holding steady after they spiralled out of the hands of the common man in early August.
Prices displayed at a vegetable shop at Broadway in Kochi on Wednesday. | Photo Credit: THULASI KAKKAT
“If the weather is fine, there will be shoppers in the city’s main markets and sufficient supplies to keep the prices down,” he says. He claims that only big onion prices are seen increasing. “Mature ginger continues to be dear with a price range of ₹200 a kg in the retail market. Prices of French beans display some signs of upward momentum but the prices of other important vegetables like vegetable cowpea, ladies finger and carrot are seen to be cooling down,” Mr. Shameed claims.
Published - September 04, 2024 08:57 pm IST
