New Market records 30% dip in footfall post-wedding season
   Date :18-May-2024

New Market 
By Kriti Shah
As the wedding season bids goodbye, market conditions have taken a quite unfavorable turn, as the commercial hustle and bustle take a back seat at the city’s famous market hotspots where traders are experiencing a dip in customer footfall. New Market, one of the most widely known markets among city shoppers for clothing, jewelry, cosmetics, and much more, has reported a dip of at least 30% in customer footfall. In a conversation with ‘The Hitavada’, the President of the New Market Association, Sanjay Valecha, expressed, “There has been a notable 30% to 40% decrease in customer footfall following the end of the wedding season. Business was on a trajectory of boom in the months of March and April. The decline is attributed to the seasonal shift, with the intense summer heat deterring shoppers from visiting the market during the daytime. However, evenings remain lively as people prefer to shop when the temperatures are cooler.” Valecha further added, “This period is an off-season for us. It’s a seasonal market condition where some months are boom periods for us, and for the rest of the time, we just try to maintain the break-even point.” Several shopkeepers at New Market have voiced the same sentiments.
An artificial jewelry shop owner said, “The wedding season brings lively business when demand significantly increases. Now, as the wedding season is gone, we are experiencing a proportionate fall in our business. This continues until the monsoon season as fewer occasions fall during this duration. During this phase, we see a minimum dip of 10 to 20% in business due to the off-season.” Another shopkeeper who sells cosmetics echoed this sentiment, mentioning that during the peak wedding season, their sales nearly double compared to other times of the year. “People are willing to spend more on cosmetics and beauty products to look their best for weddings. Now, with the season over, we rely on regular customers and occasional buyers, which doesn’t quite match the seasonal rush.” Notably, the emerging trend of online shopping among people also holds quite a share in this dip. Nowadays, people have opted for online shopping platforms for the ease of getting their desired products at their doorsteps. Due to e-commerce sites, the marketers in the offline arena are also witnessing a declining trend in their customer base.
When asked about the potential challenges posed by the growing trend of online shopping, the New Market Association President remains optimistic about the market’s resilience. “While there has been a decrease in the number of customers due to online shopping, we still maintain a strong customer base. Shoppers appreciate the quality and freshness of our products, which often surpass those found online,” he explained. In addition to quality, the market’s vibrant atmosphere and the ability to see and try products before buying are key factors that continue to draw customers. “There is a certain charm in shopping in a bustling market that online platforms can’t replicate,” Valecha added. Shopkeepers are hopeful that situation will improve with the arrival of the festive season later in the year. “Every year festivals bring their own wave of customers and we anticipate business picking up again during that period,” said a clothing store owner at New Market.