It has been a damp Onam this time, both in the literal sense and sales-wise, according to trade.
Normally, this is the season for big trade in white goods and home appliances which, according to manufacturers, can go upto Rs 700 crore.
However, sale of items like TVs, refrigerators, washing machines – the commonly sought-after home appliances when Onam allowance and bonus are in hand – has not happened in a big way.
According to the leading trader Bismi, growth has been negative this time. Sales have dropped by around 10-20 per cent while there was over 10 per cent rise in the prices of several items.
“Coupled with this is inflation which sees the main buying group, the middle class, postponing their purchases. Also, this Onam has seen heavy downpour over the last week, which also dampened sales,” the trading company’s spokesman, Ajmal, said.
According to Jerry Mathew, managing director of LanMark Shops India Pvt Ltd, which has a network across the state, Onam sales have been dismal.
One of the main reasons is the fund shortage among the Rs 10,000-30,000 salaried class, which has always been the driving force behind fast-paced Onam sales.
“Besides, the global financial turmoil, and the rupee depreciation against the dollar, have also taken its toll, as the prices of most of the imported parts that go into the manufacture of products have gone up,” he says.