This Eidul Fitr shopping season has been deeply disappointing for traders, reflecting the economic struggles of previous years. Soaring prices, sluggish market activity, and declining purchasing power have badly impacted businesses, with low- and middle-income families feeling the brunt of the crisis.
Despite bustling markets, sales remained elusive. Traders, who had high hopes for the last 10 days of Ramazan, faced a stark reality as prices of Eid-related goods surged by 40-50% compared to last year, while overall sales plummeted by 25-30%. As a result, an estimated 60-70% of stock remained unsold, with total sales barely reaching Rs15 billion - a dismal figure for the season.
Atiq Mir, Chairman of the All Karachi Traders' Union, spoke about the severe strain on businesses, citing stagnant incomes and relentless surge in prices as primary factors eroding public purchasing power.
Most consumers limited their spending to essential budget-friendly items such as ready-made garments, shoes, purses, toys, cosmetics, and artificial jewelry. Unlike previous years, many families opted for just one dress per household due to financial constraints.
Traders reported that this Eid shopping season was even worse than in 2024, with over 200 major markets - including Clifton, Defence, Saddar, Tariq Road, Hyderi, Gulshan-e-Iqbal, Nazimabad, Malir, Landhi, Gulistan-e-Jauhar, Liaquatabad, Bahadurabad, Jubilee, Jama Cloth, and the Old City area -experiencing significantly lower footfall and sales activity.
Mir expressed deep concern over the reluctance of traders to maintain large inventories, citing fears of sudden political and economic instability that could render stock unsellable. He emphasized that current market conditions have made it nearly impossible for merchants to meet their business and household expenses, with many struggling to repay debts on credit-based inventories.
Criticising unchecked price hikes, Mir accused certain profiteering groups of manipulating food prices in collusion with regulatory bodies during Ramazan, exacerbating the financial strain on low- and middle-income families. He also slammed law enforcement agencies, alleging that both police and criminal elements exploited citizens through extortion and theft during the holy month. Moreover, he pointed out the failure of authorities to curb illegal parking mafias, which operated freely despite official directives, and raised concerns over the increasing presence of beggars across the city.
With Eid festivities overshadowed by economic distress, traders are calling for urgent government intervention to stabilise prices, restore consumer confidence, and revive the retail sector.
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