Bhiwandi: Diwali Shopping Rush Missing From Markets As Inflation, Gold Price Fluctuations Hit Festive Sales

Bhiwandi: With Diwali approaching, Bhiwandi’s bustling markets are yet to witness the festive shopping rush that traditionally marks the days leading up to the festival. Despite Sunday being a holiday, major commercial areas wore a deserted look, with customer footfall remaining sluggish until late afternoon. The subdued response has left traders and shopkeepers worried about sales during what is considered one of the most important periods of the year for retail businesses.

Rising Commodity Prices Force Families To Cut Festive Spending

Rising prices of essential commodities and uncertainty over gold prices appear to be influencing consumer spending, forcing families to tighten their budgets and prioritise necessities over discretionary purchases. From clothing and jewellery to groceries, grains, cooking oil, sweets and household essentials, festive shopping across categories appears to have lost some of its usual momentum.

Pradeep Pappu Raka president of the Bhiwandi Saraf Association and director of India Saraf Bazaar said the jewellery market had remained unusually subdued this Diwali season, with little enthusiasm among customers amid frequent price fluctuations.

Festive Shopping Rush Arrives Late In Evening, Says Saraf Association President

Earlier the markets would start witnessing a rush at least a week before Diwali. This year however the markets remain largely empty until 5 pm with only a slight increase in footfall after 6 pm Raka said.

He added that fluctuations in gold prices had made customers cautious, affecting the festive sentiment in the bullion trade. With the usual pre-Diwali momentum missing, jewellers are now pinning their hopes on Dhanteras, traditionally considered an auspicious occasion for purchasing gold and other precious metals.

Wada Kolam Rice Prices Rise From ₹65 To ₹90 Per Kg Ahead Of Diwali

The impact of inflation is also being felt in household grocery budgets, particularly among middle-class and economically weaker families. Rice prices have reportedly risen sharply just ahead of the festival. Wada Kolam rice, which was earlier available at Rs 65 per kg, is now selling for around Rs 90 per kg, marking an increase of Rs 25 per kg.

The steep rise in the price of a staple food item has added to household expenses at a time when families are already managing additional festive expenditure. Many consumers are reportedly cutting back on non-essential purchases and limiting their spending to items they consider necessary.

For traders, the lacklustre response has come as a setback despite preparations made well in advance. Shopkeepers had stocked up on merchandise in anticipation of stronger demand during the festive season, but the expected rush has yet to materialise.

Traders fear that if the current trend continues, overall Diwali sales could suffer. However, they remain hopeful that customer footfall will improve over the remaining festive days, particularly on Dhanteras, when jewellery purchases traditionally gain momentum.

With the market affected by price fluctuations, our expectations are now centred on Dhanteras. We hope sales will pick up between Dhanteras and Diwali Raka said.

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