It’s a scene unfamiliar to New Market. The flow of customers through this massive colonial-era shopping arcade has slowed to a trickle. Shopkeepers stand still and cars race down nearby Lindsay Street, an otherwise commuter’s nightmare.
The red-brick, Gothic-style market, formerly known as Sir Stuart Hogg Market in central Kolkata, dates back to 1874. It has long been a treasure trove for budget-conscious shoppers, even as upmarket outlets have popped up across the city.
From ready-made to unstitched garments, flashy imitations to silver classics, gourmet foods to fish — it’s a haven for compulsive and impulsive shoppers alike. But with just a month to go before Durga Puja, West Bengal’s biggest festival, the narrow lanes of shops are sparsely populated.
“I don’t know why, but people are not coming to the market,” said a vendor at a sari and lehenga shop.
A black banner at the entrance to the market, on which the West Bengal Junior Doctors’ Front calls for “justice”, paints a picture of a city ravaged by protests.
Kolkata is in turmoil. Since the alleged rape and murder of a postgraduate doctor in training at the state-run RG Kar Medical College and Hospital, the city has risen to demand “justice” for the victim with demonstrations, graffiti, street theatre and more. Opposition parties are playing catch-up.
The retail and hospitality (F&B) sectors are the biggest culprits, especially with Durga Puja just around the corner.
“This is the peak time for puja sales. The daily sales should have reached Rs 50,000 by now. Instead, they are languishing at Rs 5,000 as stocks pile up,” laments the owner of a children’s clothing store in New Market.
Another fabric seller said, “People who buy fabric usually have a buffer of one and a half to two months. The holidays seem like a waste of time.”
The scene is similar across the market places. In Gariahat, a popular destination in south Kolkata, large sari shops look deserted.
According to a major retailer on a national level, sentiment is definitely low because of the protests. “In addition, there are disruptions in life that make people not move much. This affects the number of visitors to the stores.”
There is hope, however, that things will normalise closer to the festival. A retail official said: “We will have to wait and see. The general sentiment in the country is low. But demand could pick up closer to the festival.”
Another major retailer said sales were gradually picking up but there was still some time before Puja. “The first trends show that it could be normal.”
Footfall and sales at Kolkata’s upscale shopping malls have been on a downturn so far.
Man Mohan Bagree, vice-chairman of South City Group, said business had been hit hard by the drop in sales since mid-August when protests took place on the streets. Sales were 20-25 percent lower than expected.
“The end of season sale closure was affected. The F&B business has been hit hard — about 30 percent less than usual revenue as guests avoid going out due to daily protests in various pockets and the general mood.”
South City Mall has 11 restaurants/bars and a food court with 1,400 seats.
Quest, a luxury and premium mall, saw a marginal decline in footfall. “People are sad about what has happened and business is slowing down. The impact has been felt since the last week of August. We will know the real impact by the end of October,” said Sanjeev Mehra, CEO and Executive Director of Quest Properties.
The number of visitors to Acropolis Mall on Sunday was down 30 percent compared to the same period last year. “Generally, stores also saw a mild response as we had a lot of visitors from Bangladesh earlier,” said Subhadip Basu, general manager of Acropolis Mall.
Traffic jams caused by protests are exacerbating problems in the hospitality industry.
“Our business has been hit from the day the protests started. It has taken a toll on all the malls. Year-on-year, our sales are down by about 30 percent. Some of that is being offset by delivery, but dine-in has gone down because people are not in the mood to celebrate,” said Anjan Chatterjee, chairman and managing director of Speciality Restaurants.
Specialty has 34 locations spread across the city.
Park Street, the gastronomic centre of Kolkata, is also quiet.
According to Anand Puri, a third-generation owner of Trincas, lunch business is doing well, but people are not going out as much in the evening. “The positive thing is that people who come in don’t have to wait as long.”
Nitin Kothari, owner of Peter Cat, Mocambo and Peter Hu?, said the impact of the protests and the general mood were felt last week (Monday-Thursday). However, the weekend saw good business. “Time is the best healer,” he added.
Corporate sponsors of Durga Puja are trying to assess the situation. From banks to companies in fast-moving consumer goods (FMCG) and consumer sustainables — they all have a budget for the festival.
A major sponsor said requests had been received from puja committees. “We are still evaluating.”
Durga Puja is an industry. “Hundreds of thousands of people depend on the festival for their livelihood,” said Saswata Basu, general secretary of the Forum for Durgotsab. Basu hopes that corporate sponsorship will remain vibrant.
Big budget pujas depend largely on corporate sponsorship. Stalls, banners and pillars are the main money-making machines for the puja committees.
Anjan Ukil, secretary of Ballygunge Cultural Association (BCA), said, “Requests have been pouring in. Advertisers usually close bookings for banners, gates, etc., but they are delaying decisions on approvals.” BCA is a prominent puja committee in South Kolkata.
Avijit Majumder, general secretary of the Singhee Park Durga Puja Committee, said direct sponsors had made bookings but advertising agencies were proceeding cautiously.
In North Kolkata, Gautam Neogi, general secretary of Bagbazar Sarbojanin Durgotsav, said: “Among the major sponsors, we have an agreement with Coca-Cola. Negotiations are going on with others. We expect the pace to pick up after Ganesh Puja.”
Dhrubajyoti Bose Suvo, one of the key organisers of last year’s biggest attraction, the Tala Prattoy puja, admitted that the ongoing protests have had an impact.
However, he added, “Big corporates have given purchase orders to puja committees or agencies. If the market falls, the impact will be felt on a large scale next year. The plans for this year have already been finalised and the committees are starting to work on it.”
West Bengal is home to 43,000 Durga Pujas and the region’s business activity is a major economic driver.
A study commissioned by the British Council and conducted on behalf of the West Bengal tourism ministry estimated the total economic value of the creative industries surrounding the festival at Rs 32,377 crore (figures estimated around Durga Puja 2019). Retail accounted for the largest share.
However, its recognition as intangible cultural heritage by UNESCO in 2021 has given a boost to both mass art and the trade surrounding it.
Last year, West Bengal Chief Minister Mamata Banerjee said the festivities generated over Rs 80,000 crore in business and provided employment to nearly 300,000 people.
The stakes are high during the festival.