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From the business of homestays to retailing textiles, traders in Kochi have had a mixed experience this festive season, that culminates with New Year celebrations on Sunday.
“Though the hub of retail business in the city, Broadway and adjoining streets, have looked crowded for more than a fortnight now, business has been quite dull,” said K.M. Sageer, a trader. He added that the sale of items meant for decorations during festivities had been quite brisk, but business in other areas had lagged compared to the Onam season.
Traders said one of the reasons for the dull market was the slowdown or even the halt, in some cases, in construction activities across the spectrum. Retail business is oiled by flourishing businesses in other areas, including the construction industry. There appeared to be a surplus of stock in the construction market, and some builders had withdrawn from the scene altogether, said a merchant.
T.M. Abdul Vahid, a textiles retailer, said the Christmas-New Year season did not match the Onam season in terms of business for the textiles sector. There was a revival in business during the Onam season this year. Since then, there has been a low. However, merchants had been expecting the low as the Christmas-New Year season was not the period when people went in for heavy purchases, he added.
David Lawrence, a homestay operator in Fort Kochi, said business had been quite good. He expressed hope that the COVID-19 threat would not throw a cold blanket over the situation. He said while there used to be mostly European tourists in the past seasons, the flow of domestic tourists had picked up momentum. It was an indication that there would be a longer season for homestay operators like him.
The optimism in the homestay sector is not shared by handwoven cloth-makers in the district, who have been hit by a spiralling price of yarn as well as its short supply. “The market demand is robust, but to produce more means sustaining some losses as prices cannot be hiked now,” said industry veteran T.S. Baby in Chendamangalam.
The State government has acted positively to provide a 30% subsidy as well as a credit facility for Khadi products. At the same time, the withdrawal of Central subsidies for the sector had affected the fortunes of weaving societies as a whole, he added.
P. J. Augustine, a businessman, said there had been mixed response from traders in various categories in the city regarding the festive season business. While there are factors that need to be addressed by the State government, there is a slowdown in demand even after the COVID-19 pandemic. Issues like rising rental rates was something that needed to be addressed immediately, he added.
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