The Hindu : Tamil Nadu News : Traders hopeful as Deepavali draws near

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Tamil Nadu

Tamil Nadu

Traders hopeful as Deepavali draws near

M. Soundariya Preetha

— Photo: K. Ananthan

No extravagance: Inspite of the festive season, expenses are restricted due to the soaring prices.

It is the season of festivals and time for celebrations and shopping, with Navarathri and Deepavali just round the corner. The basket is huge for those willing to spend – dresses, gifts, sweets and savouries, ornaments, etc. But, for those who have felt the purse strings tighten with escalating prices, options seem to be restricted to the necessities this year.

Sivagami, who is working in a private organisation here, says apart from spending on dresses and sweets Deepavali is the time for investment with the extra money that is either saved through out the year or received as additional income. It is normally a small ornament that gets added. However, with the gold prices soaring, that investment is ruled out this year. Unlike earlier days, good dress materials can be purchased at any time of the year now.

The other expenses are minimal. This year, we decided not to go in for gold ornaments since the prices are too high, she says.

However, one of the jewellers in the city contends that business can pick up if the rates decline even slightly. Recently, when the gold prices came down for a short period, the city saw a rush to purchase jewellery.

The same may repeat, depending on the price movement, he says.

During the last few years, the trend is an increase in sales after the festival. People complete their miscellaneous expenditures first and come to buy the jewellery at leisure later, he adds.

A textile trader in Gandhipuran points out that the Aadi sales this year were not as good as expected. Hence, consumers were expected to spend more for Deepavali. Usually, sales increase after Navarathri. Though prices are up, business is expected to be brisk this year, he says.

M. Krishnan of Sri Krishna Sweets says giving sweets as gifts is part of the culture in the State. Though raw material prices are constantly going up, producers are looking internally to cut down costs. Apart from the high cost of milk and milk-based products, labour is also expensive now.

Meanwhile, the demand continues to be there because of the changing life style and increasing purchasing power of people. Though prices are escalating, there is only a slight control on spending. “In no way can there be a drop in sales,” he says.

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