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Hyderabad CTC loses its charm

Hyderabad CTC loses its charm
Highlights

Chenoy Trading Centre (CTC) in upmarket Secunderabad may have earned notoriety in global piracy and violation of intellectual property rights (as endorsed by the US) but the past few months have revealed a sorry picture-the market is no more ‘rosy’ for the traders who have set up shop there.

Bifurcation, E-retail impact business

Chenoy Trading Centre (CTC) in upmarket Secunderabad may have earned notoriety in global piracy and violation of intellectual property rights (as endorsed by the US) but the past few months have revealed a sorry picture-the market is no more ‘rosy’ for the traders who have set up shop there.

That it has ceased to be a money-spinner comes in the wake of the bifurcation, which has sounded death-knell for several traders as sales have dwindled to alarming levels. Rahul, a vendor at CTC, says, “Blame it on bifurcation. The creation of Telangana State has seen a dramatic reduction of the workforce. Not many are inclined to work here. It is ditto with regular and potential buyers. It was just the other day that people would swarm the area. Today, one finds empty spaces, all around.”

Looking at the larger picture, one cannot pin down the slump on bifurcation alone. Accusing fingers are being pointed at e-retailers. “Online business has been teeming in recent years, and many people find the products cheaper online than in the market,” says Parmesh Singh, another vendor.

He goes on to add that customers resort to comparing rates online and expect products at the same price.Very recently, members of the Twin Cities Computer Dealers Association (TCCDA) had also expressed disapproval over e-commerce companies, who they accuse of indulging in rampant unethical practices to make hay.

“With the e-commerce industries offering hefty discounts and freebies, vendors in the real world will obviously cry foul. Such cheap prices ruin the market for that particular product,” points out C Veera Swamy, president of TCCDA. “The e-retailers sell goods at factory price and save on overheads by delivering them to the buyers through couriers, while traders have to manage intermediary costs and profit margin within the MRP,” Swamy explains.

“We make most of our profits during the festive season. But this time, given the meagre quantum of sales, we have incurred a severe loss. Some retailers claimed that they have incurred 80 per cent loss in business in recent times,” Veera Swamy claims.

Another vendor Deepak Kumar added, “We had protested against online business. But nothing has happened till now.” Prem Rathod, the parking vendor in the locality, chips in, “The number of vehicles coming in has gone down. Earlier there used to be so many vehicles that we could not find enough space. These days a customer can park his bike anywhere he wants to.” There have been many appeals by dealers to limit the sales of electronic goods online, but to avail.

By:Chand Ahmed

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