KARACHI, Oct 11: The Saturday’s earthquake in northern parts of Pakistan has dashed the sentiments of consumers and it is much evident from their thin presence in the markets at a time when Eid shopping usually starts picking up pace.
Initial reports reveal that majority of consumers are now in a limbo whether to go for shopping or not after seeing tragic reports and pictures in print and heart-pinching video shoots in the electronic media that continue to pour in with more death toll figures and disturbing scenes, thus further shattering the consumers’ sentiments.
Consumers have now either shifted their focus towards donating to the earthquake victims from their available resources or have suspended their planned shopping activities for the time being. Many people think that it will be fair in contributing towards the quake relief funds instead of making Eid in sumptuous manner.
A random market survey reveals that shoppers can easily walk inside the shopping areas like Saddar, Hyderi, Bohri Bazar, Tariq Road, etc., as compared to last Eid when markets were flooded with consumers by the end of sixth Ramazan.
Perhaps the market is currently witnessing those buyers who have to manage clothes and other necessary items for wedding after Eid, otherwise the presence of genuine buyers is very thin.
Mohammad Yousuf, proprietor, A. Rahman and Sons at the Cooperative Market Saddar, said the Cooperative Market, famous for shalwar kamiz varieties, had 50 per cent less buyers these days as compared to last year’s Eid.
Buyers’ presence in the market has cut to size in the last two days. By that time last year, consumers had arrived in larger numbers and walking areas of the market had become congested owing to heavy rush. But these days there is no such situation, he said.
People usually buy cloth for shalwar kamiz a bit earlier as famous tailors stop taking further orders after passing of seven days of Ramazan, he adds.
Mr Yousuf said that even the cloth market, opposite Motan Das, now portrayed only fewer buyers as people, who had already lifted cloth from the market ahead of Ramazan, are now waiting for the depletion of old stocks. Traders are not placing any fresh orders to wholesalers and stockists of shalwar kamiz in the cloth market, he adds.
A tailor behind the Cooperative Market said that he was getting orders like normal days because of old customers. “No new buyers are coming.” It means that orders from the buyers have dropped by 30-50 per cent from the last year after the end of sixth Ramazan.
Another tailor said that he had started cloth cutting work 10 days back, which was a good sign, but currently a dull session is prevailing because of lack of orders.
Director, Bonanza Garments, Hanif Bilwani, said that its Pindi outlets had witnessed a drop in sales by five to 10 per cent these days after the earthquake, but in Lahore and Karachi — sales are going normal as of the last year. He said sales would pick up late in this Eid, may be after 10-12 days, but there was hardly any chance of mega fall in sales in the aftermath of earthquake.
Those who had disposed of their old clothes as a donation for the quake victims would definitely enter the market to buy new clothes, he said, adding that one could not deny the fact that purchasing power and economic indicators had improved tremendously and their impact would be witnessed in the market.
However, he said a growth of 25 per cent was recorded in the market in terms of sales for the last two years. Now there is also a growth this year but in the range of 5-10 per cent.
Partner, Sanallah & Co, Zaki Nawab, said that Eid sales in his departmental stores (Sanaullah) had dropped by 20 per cent in the first six days of the holy month as compared to the last year, as the devastated earthquake had gripped the nation. “I think sales will remain depressed in the coming days and in case the lull session prevails — our sales will fall by 20-25 per cent in full Ramazan as against last year,” he said.
“There are no chances for increase in sales this Eid season, as the earthquake has shifted the focus of buyers to play a role now,” Mr Zaki said. The people who used to buy three shalwar kamiz suits are expected to buy only one on this Eid, he assumed.
A footwear dealer in the Saddar area said that only 50 per cent buyers are in the market these days as compared to 80-90 per cent last year.
“People have adopted a wait-and-see policy after the Saturday’s natural catastrophe,” he said.
Director, Sanaullah Textile Mills, M. Junaid Nawab, said that at this moment blankets (imported and locally made) had almost been lifted from the markets.
“We are making blankets day and night but demand has almost outstripped supplies,” he said, adding that people are eager to have blankets in bulk for donation purposes. “We have stocks but it could not match the demand which has been rising phenomenally,” Mr Nawab said, claiming that the company has kept the prices intact.
He urged the government not to allow duty-free import of blankets and other necessary items to meet the rising demand. He said the industry was capable of meeting the demand in the next few days and duty-free import would hurt the local makers.
