Offshoots of economic revival translating into shopping spree

Buoyed by optimism, offshoots of economic revival and more stable job market vis-à-vis 2009, the people are loosening their purse strings and splurging on shopping sprees to mark the arrival of 2010.

The various malls and markets in Lucknow have registered considerable increase in footfall of shoppers and sales this season compared to last year.

“Due to the recession last year, people had postponed their purchases, but the trend has reversed this time. We have registered 20 per cent increase in footfall, while the ticket size of purchase has increased by 15 per cent,” Big Bazaar store manager Navneet Negi told Business Standard.

All the segment of goods, including electronics, apparels, furniture, luggage etc, has registered growth in sales during this shopping season that kicks off from Christmas and extends well past the new-year celebrations. Due to school holidays, the kids also form a major part of shoppers or deciding factor in purchases.

“The response of shoppers is very good this season and much better compared to last year. The markets have revived and people are coming back for shopping,” Chief Officer, Fun Republic Vivek Agarwal said.

He informed the Fun Republic Mall in Lucknow was recording a footfall of 30,000 on weekends this time, compared to 9,000-10,000 last year. “Even for the weekdays, we are getting footfalls of almost 15,000 this time round, ” he said.

The various retail chains are giving discounts, bargains and bundled offers to attract shoppers and push up sales, while the people have hard time to decide on the best bargain even as they refuse to complain.

Another prominent mall in the heart of Lucknow reported 15 per cent increase in footfalls and increase in sales of all segment of goods. A spokesperson said the shopping season would continue till February 2010.

“Every year, we organise a one-month carnival during winters to promote sales and increase footfall. The carnival is advertised on air, print media and also outdoor media to make the public aware about it. This year the response has been good so far,” he added.