The celebrated Little India Bazaar in Singapore is weathering the blues this Deepavali season as high rents, reduced footfall, and lack of variety have vendors in a conundrum.
Imagine a vibrant market scene in Singapore. The air is fragrant with the scent of fresh flowers, and the atmosphere ticks with anticipation for the upcoming Deepavali festival. Sounds great, right? But this year, things don’t seem to be going quite as planned for the vendors in Little India’s annual Deepavali Bazaar. This, as per the report by The Straits Times.
Traditionally, the anticipation leading up to the festival is palpable here at the bazaar- full of festive buzz, excitement, snacks, decorations, and, not to forget, eager shoppers. Organised by Singapore Night Bazaar (SNB), this annual celebration was expected to see brisk sales from October 14 right up to Deepavali on November 12. Sadly, this year, the sounds of the crowd and the ringing of cash registers are decidedly sparse.
G. Shanti, a snack vendor in the bazaar, voiced the anguish many vendors are feeling. “Often, people don’t buy the snacks. They get hungry from walking around, take our free samples, and leave without buying.” Apart from reduced footfall, vendors are also grappling with the high stall rents that range between S$4,000 and S$6,000 per unit. That’s no small sum, and it’s definitely not helping matters in these challenging times!
Stretching their creativity to attract customers, vendors have resorted to price reductions of up to 40%. It’s a strategy born out of necessity rather than choice. Additionally, vendors like Henna artist Shamini have had to diversify and supplement their income by selling children’s clothes, as sales tend to gain momentum closer to Deepavali.
However, it’s not all doom and gloom. Some vendors remain hopeful. Madam Kalai, who runs a stall selling Deepavali decorations, is staying confident that business will pick up in the final weeks. She noted that her larger stall allows customers better browsing experience, and this might give her the edge she needs to compete.
In this evolving retail landscape, consumer behaviour has drastically changed. Ethan Hsu, the retail head at Knight Frank, sheds some light on this, stating, “That is why the limited customer base has become a key challenge in driving footfall to the bazaar.” But it doesn’t stop there. The rise of e-commerce and online shopping is another critical factor in this narrative- posing intense competition, particularly for traditional bazaars.
To top it off, shoppers at the bazaar expressed discontentment over the lack of variety in the offerings. As Mrs. Suchitra Renga puts it, “My girls refused to select anything in the bazaar. They just did not like the range.”
So, where does this leave the Deepavali Bazaar in Singapore? Is there a future amidst high rents, changing shopping patterns, online competition, and customer dissatisfaction? Hsu, a retail expert, offers an insightful perspective- vendors need to understand their customers’ preferences. It’s crucial to meet these expectations better than competitors to thrive. So, while footfall may increase closer to Deepavali, as per past experiences, vendors need to be proactive to draw in shoppers.
Will this solid advice see our feisty vendors turn the tables? Will the final weeks leading up to Deepavali bring about a change in fortunes? Let’s keep our spirits high and continue to support our local businesses and preserve our shared traditions this festive season. Now, isn’t that something to ponder upon as you munch that delicious festive snack? We’d love to hear your thoughts!
