All is not well for the traders in the commercial capital of the state with a problems ranging from opening of big shopping malls to the ongoing Kochi Metro rail construction.
According to traders the business is down by 20 to 30 per cent on this count and the sales graph plunging. Even though the decision to close MG Road to carry out Kochi Metro work has not been finalised the business community believes that if it happens the trade would nosedive with the inconvenience caused for customers.
MG Road has already lost its charm to shopping malls and business has shifted to Edappally and Palarivattom areas. The daily business volume in about 250 shops on the stretch is in the range of Rs 60 lakh to Rs 1 crore. Besides, large shops are also planning to down shutters owing to low business.
The five-lakh sqft Emmanuval Silks showroom at Edappally has reportedly stopped its operations recently. The business in malls has been affected by over 20 per cent in the last four months and the decrease in daily foot falls is 25 per cent. There are reports that big malls are for sale in the city.
M A Mohammed, managing director, Oberon Group, said that the business at Oberon mall was down by 20 per cent for the past few months.
“There is a decrease in daily foot falls too. But the positive trend is that we have genuine buyers. Our food court and multiplexes are fetching good business. Lulu Mall has become a shopping destination not only for the city but but also for the state and naturally other traders are affected,” he said. When Oberon Mall was set up in 2008, the ground reality was different and we found it difficult to attract retailers. It took two years to change the mindset of retail majors. But the entire scenario has changed with the arrival of Lulu, he said. “Branded shops on MG Road experienced a fall of 60 per cent in business when various malls in the city started functioning. The inconvenience caused by Metro work will affect all sections of traders,” said Divakar Prabhu, owner of a shop on MG Road.
K G Venugopal, president, Ernakulam Merchants Association, said that though the authorities say the work would not affect the traders, the reality would be different. “The majority of the business on MG Road has shifted to malls and the Bypass. When the metro work is on, parking will be a hindrance. In Edappally, where the metro work is in progress, the business has been hit because of space constraints,” he said.
Kerala Merchants Union President Mohammed Ashraf said that since the traders get the majority of business on Saturdays and Sundays the inspection on MG Road should be done on weekdays.