Festive centimeter: Mumbai’s Crawford Market vendors grapple with dwindling consumer spending

Mumbai’s Crawford Market has long been the city’s bustling holiday shopping hub, catering to household needs as well as gifting essentials. This year, however, there is palpable tension in the air as store owners question whether consumers are truly willing to spend money or whether slowing demand in cities is clouding sales.

Kanti, a retailer specializing in chocolate, expresses concern, noting: “Demand is not the same as last year; people don’t buy enough. Dried fruits are fine, but chocolate sales are low.” His opinion was echoed by another store owner, who lamented: “Our business has dropped by almost 30%. People come to buy, but they don’t buy as much as they used to.”

At first glance, Crawford Market appears busy, with shoppers wandering the stalls. However, behind this bright facade lies a harsh reality: store owners are reporting a noticeable decline in foot traffic compared to the previous two years. A significant factor contributing to this trend is the rising cost of living, which is squeezing consumers’ wallets and forcing them to rethink their spending habits.

One fruit seller highlighted the impact of rising prices, saying: “Prices of fruit boxes have gone up. People ask the price and leave.”

Ramzan Ali of the New Chocolate Center expressed general frustration among shopkeepers: “Everyone’s expenses have gone up, but salaries are the same, so how can people spend?” This discrepancy between rising costs and stagnant incomes has led to a cautious approach on the part of consumers, many of whom have decided to limit their purchases.

The change in shopping behavior is further exacerbated by the rise of online shopping. Many consumers now prefer to shop from the comfort of their homes, turning to e-commerce and fast-commerce apps instead of braving the crowds. Store owners are feeling the trend as online alternatives become more attractive.

Despite these challenges, sellers remain hopeful that the upcoming wedding season will revive sales and bring much-needed cheer.