So far in comparison to last year, sales are down 40% (during the festival season)

The Secretary General of the Confederation of All India Traders (CAIT) says the major reasons for decline in sales are cash crunch of consumers and the mass shift to the online markets on the back of “deep” discounts.[VIA]

Speaking to IANS, he said that the footfall in the brick and mortar shops including malls has taken a hit by around 60% in comparison to last year.