Bengaluru’s once bustling markets are silent this Deepavali season. Rising inflation and the growing trend of online shopping have led to a striking change in consumer behavior. Local vendors are grappling with significantly reduced foot traffic.
Many are struggling to make ends meet. The cost of essential commodities has risen steeply, leaving less disposable income for festive spending. This economic strain has deterred many from indulging in traditional shopping sprees.
The convenience and options provided by e-commerce platforms have further discouraged shoppers from visiting physical stores. The ease of comparing prices, exploring a vast array of products, and doorstep delivery has become a game-changer, especially in a tech-savvy city like Bengaluru.
Inflation impacts Diwali market activity
One shopkeeper from the historic Krishna Rajendra Market said, “The rush we used to see during Deepavali is missing. Online shopping has taken over.”
The impact is multifaceted. While consumers benefit from online shopping, the traditional retail segment faces an existential threat.
This shift affects individual livelihoods and the cultural vibrancy associated with festive market scenes. Analysts suggest local markets need a balance between online and offline shopping to survive. Initiatives to support small vendors through digital marketing and competitive pricing may help mitigate some challenges.
As Bengaluru adapts, the Deepavali celebration continues in a different hue. The festival’s essence remains, but its economic and social landscape continues to evolve.
