Christmas shoppers hit by cash crunch in Mumbai

Shop and stall owners said that sales of home decorations and accessories have been lower than usual this year.

Christmas has become the first major festival to be affected by the demonetisation of high denomination notes.

Sales of Christmas accessories have taken a hit, as people struggle to get hold of enough cash. (Kunal Patil/ Hindustan Times)

Sales of Christmas accessories have taken a hit, as people struggle to get hold of enough cash. Shop and stall owners said that sales of home decorations and accessories have been lower than usual this year.

“We have set up a stall since December ,1 but have not sold even half the material we usually used to sell in the last weekend of the festival,” said Divya Shetty, a Christmas accessories shop owner at Hill Road, Bandra.

People said that the lack of cash meant that they could not shop at the small shops and stalls. “This area is usually buzzing weeks before Christmas. Now, people have no change and we can’t render change for Rs2000 to every one. We are forced to send them back,” said Shawn Dcosta, an Orlem resident and a cake shop owner.

Other shop owners agreed. “They don’t know how much the (Christmas) festival means to us. We earned 30 rupees this year compared to every 100 last year,” said Charlie Perreira, another Orlem gift shop owner.

People fear the decision would ruin the new year, as the deadline will stretch till March. The deadline to deposit money comes to a close on December 30.