The hundreds of brick-and-mortar shops that have been dotting the Jagdish market in Abids which could survive a severe blow from retail chains five years ago, are now finally succumbing to the latest `price-wars' announced by the online shopping portals.
There are reports that 90% of the traditional electronic goods and mobile stores are into losses, and around 70% of them are fully down in the dumps. Many have already pulled the shutters down, even as rest others are waiting for now to follow suit.
Most of the outlets here are reportedly witnessing a 70-80% decrease in their footfalls. In another one year or so, it is being predicted that these markets would fully collapse. Customers are not having the patience any more to come and shop for the electronic goods.
Moreover due to the huge discounts available online, people are preferring this mode of shopping, and because of the online portals, many feel that level playing field is gone and survival is not possible anymore. This is also the case of the similar chain of stores in Parklane, Secunderabad. Jagdish market and Park Lane stores may become history soon!
