13 Nov 2019 | 10:07 AM

News

INDUSTRY
Traders may see 50% fall in festive sales govt should check e-commerce: CAIT NCR
Published on 10-22-2019
Traders in Noida are fearing a decline of up to 50 per cent in sales during the Diwali festive season due to "unethical business" of e-commerce firms and the government should intervene to check these companies Sushil Kumar Jain convener of the Delhi-NCR unit of CAIT said.


With only a week left in Diwali markets across Noida are deserted and "now traders have lost hope of festive sales" Jain said.


He claimed that "unscrupulous business" of e-commerce companies was the main reason for the slowdown as they are giving huge discounts on various products.


"This has attracted customers coming to the markets. Recently in the festival sale put up by Amazon and Flipkart both companies have sold (goods worth) around Rs 19000 crore in just four days which makes it clear that a large part of the business in the market is (with) online companies" he added.


"There is a decline of almost 60 per cent in the business of mobile sector only 35 per cent in FMCG and consumer durable 35 per cent in electronics goods 30 per cent in electrical appliances 25 per cent in garment 20 per cent in footwear 35 per cent in gift items 25 per cent in furnishing goods 25 per cent in decorative items 15 per cent in building hardware 30 per cent in kitchen equipment 30 per cent in computer and computer goods" Jain who is also the president of Sector 18 market association and president of the district unit of Udyog Vyapar mandal said.


The data is based on sampling done from feedback of 7 crore traders associated with the Confederation of All India Traders across India Jain said.


"If the market goes on like this for another week then on this Diwali festival due to the e-commerce companies there will be a drop of about 50 to 60 per cent in the total business of the traders which is very worrying" he claimed.


"If the government does not curb online sales and does not put money in the market then the business situation will be very bad" he added.