Markets Remain Deserted in Neemuch
Neemuch – High inflation delivered a severe blow to the hopes of traders and shoppers alike during the auspicious Pushya Nakshatra, a key shopping day just before Diwali. Contrary to the usual festive bustle, the city’s main markets, jewellery showrooms, electronics stores, and vehicle dealerships were notably deserted this year.
Gold and Silver Prices Ground Festive Buying
Traditional buying, considered highly auspicious on Pushya Nakshatra, was thwarted by soaring commodity prices. With gold reaching Rs 1,35,000 per tola and silver hitting Rs 1,85,000 per kilogram, most consumers held back. Jewellers reported that sales failed to even reach 30% of their expected volume. Similarly, the electronics market saw a 50–60% drop in sales, despite attractive offers on LED TVs, refrigerators, and mobile phones, as crowds simply did not materialize.
Reduced Footfall at Vehicle Showrooms
The slowdown extended to the automotive sector, with only a handful of prospective buyers visiting two-wheeler and car showrooms, most of whom left after gathering information. Showroom managers indicated that high interest rates and steep petrol/diesel prices were burdening consumers. Traders lamented that the once-guaranteed rush of Pushya Nakshatra is waning as customers now prefer to shop based on convenience and need, pouring cold water on pre-Diwali sales expectations.
