Eid Bazaars have sprung up in different localities of the city, offering latest in readymade garments, jewellery and footwear. A survey of the market on Wednesday showed Eid bazaars offering cotton kurta-shilwar suits for males 30 percent cheaper than the prices quoted at regular boutiques.
The same stuff for women is up to 40 percent cheaper. Clothes for children are also available at competitive prices. Talking to Business Recorder, one Eid Bazaar organisers said that stalls in the Bazaar have no overhead expenses, such as heavy rents of shops and maintenance cost. The stock, which these stall keepers sell, comes directly from the factory. The role of middleman has no place in this arrangement. This factor has reduced the prices substantially.
They said that those who have set up stalls in Eid Bazaars are mostly 'seasonal businessmen' and do not have to compete with others. They would disappear after Eid.
They said that those who have stalls in Eid Bazaars have no godowns and would not be able hold back the leftover stocks beyond Eid. In these circumstances they have to be competitive, reasonable and submissive to frantic bargaining by the customer.
They said that readymade garments were not restricted to kurta-shilwar suits but a large number of other clothes were also available. In fact, all that one family needs for Eid day is available in these bazaars.
They said that each stall should get net earning in the range of Rs 1000 to Rs 3000 per night during the next two weeks. The earnings would depend on the size of the stall and quantity/variety of the stock. "The margin of profit is more in children's clothes than the garments for elders," they added.
The organisers said that surprisingly the price structure, for similar products, is the same in the middle-income areas and the posh and expensive shopping areas. "Price differential in Eid Bazaars is just not possible, as otherwise the sales would get affected and people would rush to cheaper bazaars," they said, and added that "word of mouth spreads fast".
They said that Eid Bazaars have posed a threat to established shops and boutiques as many stalls have purchased clothes from the same factory and at reduced rates and have put the same product with same tag on display to attract customers as the established shops have done. But the threat is short-lived as after Eid these bazaars would disappear and the established shops would be on their own again.
Artificial jewellery, makeup goods, shoes, undergarments, and scarves and imported suiting are also available at these stalls. Some of the stalls also have plastic goods, household utensils, and crockery imported from China, Iran and Taiwan.