Saturday, April 1, 2023

Online shopping spree plaguing Jamshedpur retailers


By Manpreet Singh Bhatia
Jamshedpur, Nov. 9
: As online shopping trend sweeps Jamshedpur, retailers are a worried lot.

The growing trend of online marketing in Jamshedpur has made life difficult for the retailers as the shopkeepers in the city are going through a rough phase and some are even facing deflation and their business has also come down to a large extent.

The situation is so worse that some retailers are under debt. According to Confederation of All India Traders (CAIT), due to e-commerce, there has been a dip of 35% to 40% in 24 categories of retail business as compared to the previous year.

The same report has been provided to the Singhbhum Chamber of Commerce and Industry (SCCI).

According to the report, about40% business of mobile phones, consumer goods, electronic products, gift items, personal care, jewellery and footwear sector has shifted towards e-commerce in the last two years.

Amazon, Flipkart, Snapdeal, Myntra and other e-commerce giants are running discount sales during this time of the year. The impact of this is directly on the retail market and with Diwali round the corner; shoppers do not seem to be interested in going to the markets.

The vibrancy from the market is missing. Sales of electronic goods, consumer durables and utility products are declining across cities and towns even during the peak festival season.

Shopping trend of 18 to 35 years age group has changed a lot. Instead of going to market they prefer buying products online, thanks to smart phones. The growing online market has come as a nightmare for the retailers and trade bodies are certainly in a mood to protest.

State government is also trying to curb e-commerce and collect tax, but they have failed to set up a system. Bihar, Bengal and Odisha have been doing a lot to help the retailers, but the absence of a system in Jharkhand is making life difficult for the traders.

SCCI president Suresh Sonthalia says, ďThe State government has failed to curb down on these companies and if a system in not set up immediately, the retailers will face more harrowing time in near future. Traders are becoming debt ridden, situation is getting worse and the state government isnít doing much is bad sign for the traders of Jharkhand.Ē

Tax expert Murlidhar Kedia says, ďState government will have to set up a system to curb down on these e-commerce companies and provide relief to the retailers.

These companies pay tax in Delhi and how come State government imposes tax on them? At any cost a system needs to be developed.Ē


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