Srinagar, 15 June — As the festive season approaches, market dynamics in J&K are experiencing a significant shift. Due to an ongoing liquidity (cash) crunch, consumers are increasingly prioritizing budget-friendly products, leading to a notable downturn in overall market activity.
Farhan Kitab, President of the Confederation of All India Traders (CAIT) Kashmir unit, while highlighting these pressing issues today said that the current liquidity cash is severely affecting consumer spending power and that retailers must adapt by offering more budget friendly products to meet the changing demands of shoppers during this festive period.
To retain the customer base, Mr. Kitab has emphasized the importance of exceptional customer care to its retail base members.
“We, as retailers, must work on customer care and be friendly with them whether it comes to exchanges, refunds, or repairs. Building strong relationships with our customers will help us navigate these challenging times and maintain their loyalty,” he added.
In response to these market conditions, businesses are adapting by introducing a variety of affordable products and special promotions to attract budget-conscious customers. Retailers are also enhancing their online presence to cater to the growing demand for convenient and cost-effective shopping solutions.
“We understand the financial challenges our customers are facing this festive season,” “Our focus as retailers should be on providing high-quality, budget-friendly products to ensure that everyone can enjoy the shopping without financial strain.”
We predict that this trend may persist until economic conditions stabilize, urging retailers to continue innovating and offering value-driven products to sustain consumer interest and market vitality, CAIT Kasgmir chapter has said.
