Shoppers shift from markets to malls as cash crunch continues

New Delhi: With salaries being credited and the winter already knocking at the doorstep, hundreds of shoppers, undeterred by the demonetisation entering fourth week now, came back flocking at their favourite malls in the city to shop on Saturday and Sunday.  

After the sudden ban on high-value currency notes of Rs 500 and Rs 1, 000 that had caught lakhs of people unaware on November 8, the malls in Delhi continued to run their business peacefully, except some downfall in footfall in the initial days. However, smiles pervaded on once-worried faces as the crowd started thronging the malls this weekend, giving impetus to the business to shopowners who saw a dip of over 15 to 20per cent in their business earlier.  

Though some pinch was felt in the first week post the demonetisation, with the government’s strong push for the use of e-payment facilities and different banks and companies offering e-wallet facilities, the situation, said shopkeepers, has normalised now. Lokesh, assistant manager, operations at Ambience Mall in Vasant Kunj, said that the corresponding weekend post the demonetisation saw a dip an over 50 per cent in the footfall but “it has started recovering”. “Most people who visit the mall use plastic money and carry credit and debit cards. During the initial four days, we didn’t see much crowd, but now it has gained momentum.” He added, “However, the luxury section of the mall that houses big brands certainly felt the pinch with a dip in sales.” The foyer of Select City Walk Mall in Saket, south Delhi, depicted the similar story. With over 20 per cent fall in the footfall earlier, the crowd swelled alike before on during this weekend. Sugandha, a frequent visitor to malls, said, “We earlier felt how things will work out, with winters approaching and a lot of shopping yet to be done, but nothing changed with the online payment option available.”

Meanwhile, the business at the food courts in malls has taken a back seat, as most people pay through cash at such places.

“Food courts in malls have introduced food wallet card, just like your debit card. But, before that one needs to recharge it with cash. And that is where the problem occurred,” said a food court employee, who works at DLF Emporio Mall in Vasant Kunj.

Meanwhile, majority of staff members of several malls unanimously pointed that due to the note ban, they saw a rise in online transactions.