: The main road in Chandni Chowk on Friday was bustling as usual with people, traffic and its characteristic chaos.
At first glance, it seemed as if demonetisation had failed to touch the market. Closer observation, however, revealed that almost every person had come to visit the numerous banks that dot the road. While showrooms along the stretch were dressed in the latest trousseau options, shop owners and attendants sat idle, hoping for customers to walk in.
“We accept both cards and cheques, but I feel there is a sense of shock due to which people are not willing to spend at all. Usually, brides and grooms purchase their outfits by November and it is family members who are seen running around to get their clothes ready. I think people will just reuse something they already have,” said Ankur Jain, owner of a boutique near Sis Ganj Gurdwara.
Few stores accept cards
Off the main road and into the alleys of Kinari Bazaar and Dariba Kalan, the situation is worse. The shops there traditionally transact only in cash. With very few stores accepting debit or credit cards, some shop owners with this facility have put up large placards proclaiming the same.
Bride-to-be Chandrika, who had come with her mother to shop for decorative trays and other gift items, said: “Our choices are limited since we are only going to shops that accept cards. We are saving our cash for unforeseen expenditures. The only silver lining is that we are getting good discounts.”
Shop owner Gajendra Singh said he had been swatting flies all day since the past week. “Besides unsold stock, even people who placed orders have failed to turn up. My craftsmen, who live in a village in Rajasthan, are worried as they make money for the whole year during this season,” shared Mr. Singh.
No shopping trip to Chandni Chowk is complete without the famous chaats. While many accept only cash, some like the “Old Famous Jalebi Wala” have set up Paytm accounts..
