Indian Shopkeepers Facing Challenges Due to High Inflation, Online Shopping Amid Festivities

August in India is known for the sibling festival 'Raksha Bandhan', which falls on the last day of the Hindu lunar calendar month 'Shravan'. On this occasion, sisters tie a sacred thread 'rakhi' (similar to an amulet or talisman) on their brothers' wrists to get assurance for their life-long protection and care.

India is known for being the land of festivals, as almost every month brings some kind of celebration. Due to the country's extensive religious diversity, roughly 20-30 grand festivals are celebrated in a big way annually in the country.

'Raksha Bandhan' will be celebrated on Thursday, and local markets in different parts of the country are decked up with fancy lights and brimming with various types of colorful rakhis (sacred thread).

In Delhi and its neighboring areas, a large number of people, especially women, can be seen flooding the markets to buy rakhis and various other things, especially new clothes, decorative items, and gifts that are also given as presents on the occasion.

However, this year the shopkeepers in local markets don't appear quite so happy with the big crowds: vendors have faced issues due to high inflation and increased online shopping.

Talking to Sputnik, Om Bajpai, the owner of a garment shop in Noida, a city in Uttar Pradesh, said that due to the COVID-19 pandemic the customers have developed a habit of cautious buying.

“There was a trend when people were not hesitant about buying some extra stuff. But after the pandemic, they are now buying less or we can say they are buying only those things which they need," he said.

"Apart from this, the price of everything has gone up, which has also impacted the buying pattern of the common man,” Bajpai stated.

Saurabh Kumar, a rakhi seller in India's capital city Delhi, told Sputnik that due to inflation the prices of rakhis have increased by around 40 percent. But the customers want it at the old prices.

Women Buying Rakhi Ahead of Raksha Bandhan in India

© Sputnik / Rahul Trivedi

People Flooding Markets Ahead of Raksha Bandhan in India

© Sputnik / Rahul Trivedi

“After offering discounts, we are not able to get the desired margin of profit because of which our income has gone down this time,” he added.

Many shopkeepers blamed online shopping for badly impacting the traditional buying habits in markets.

The consumers are also lured towards online shopping as the e-commerce companies offer huge discounts along with free home delivery. It saves a person the necessity of entering the hustle and bustle of the market in the hot and humid climate.

Amit Kumar, owner of a gift shop in Noida, told Sputnik that the penetration of online shopping increased following the onset of the COVID crisis, as now consumers have become accustomed to shopping from e-commerce platform.

“The online shopping is providing ease of purchase to the consumers in many ways. First of all, they don’t have to step out of the house, then it saves them a lot of cost because they can directly send it to the receivers doorsteps at any extra cost whereas earlier a person used to buy a gift then send it through courier,” Kumar stated.