October 15: Usually, the market bustles with life with the onset of Dashain and Tihar as people flock to the market places for shopping. However, the business is disappointing this year due to the recession in the economy, which has reduced the purchasing power of the general public.

With the onset of Dashain, the main business centers of Kathmandu including New Road, Khichhapokhari, Asan, Indrachok, Sundhara, Bhotahiti, Koteshwar, Baneshwar and other places are crowded with consumers. Traders in those areas, however, complain that there is no encouraging business despite the crowd.

There is a trend among consumers to go to New Road or Asan to buy even small items. As a result, more congestion can be seen in these areas than normal times.

“However, not all of those consumers come to shop for Dashain,” says Bimal Prajapati, a businessman, adding, “There are more consumers who are looking for cheap goods because the price of every product has increased in the market. That's why there is a lot of crowd in the shops that have sale going on.”

Economic recession and high interest rates of banks have slowed down the pace of trade and business. Businessmen who have been importing goods from different countries since June and July, targeting the festival, say that this year they have imported goods sparsely due to low demand in the market. Traders say that they do not feel like Dashain this year.

At present, the price of every commodity including food, petroleum products has increased in the market. However, the consumer's income is limited. Due to this, consumers have changed their shopping habits affecting the market.

Naresh Katuwal, president of the Nepal National Traders’ Federation said that there is never 100 percent business in the market.  In normal conditions, the business is 75 to 80 percent, but this year it has shrunk to 30 to 40 percent. According to him, goods are going from wholesale to retail market for the festive season. However, complaints of lack of retail trade are increasing. Previously, it was customary for those leaving Kathmandu to buy goods from here when returning home. He speculated that the business may have decreased during the festival probably because goods are now available in the villages.