KOCHI: The past month, after the Central Government announced the demonetisation, has been worrisome for small retailers and vegetable vendors in the State.
Sales declined by at least 50 per cent, mainly because people are apprehensive to spend. Though the currency ban has prompted many to shift to alternative payment methods, retail outlets have been witnessing a sharp decline in footfalls.
Interestingly, prices of almost all commodities except perishables such as vegetables remain unchanged.
According to Broadway Shop Owners’ Association joint secretary Joseph D’silva, retail outlets that sell goods at moderate prices, such as grocery and vegetable stalls, are the worst affected.
He hopes that the situation would remain the same in the next five/six months. A merchant operating at Kaloor said sales were very low, despite accepting PayTm, as people are reluctant to spend.
“Not only the number of customers, but the quantity has also come down drastically. Prices of the major crops produced locally, such as coconut, pineapple and pepper, have suffered,” said P Solomon, a small-time trader in Kochi.