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Ggn shopping malls wear deserted look as shop owners stare at losses

Ggn shopping malls wear deserted look as shop owners stare at losses
The Central government’s decision to demonetise five hundred and thousand rupees notes has resulted in a massive drop in sales in the malls of Gurugram.   

Generally, at around this time of the year, a huge rush used to be seen in the malls of Gurugram. However, today, most of the malls look empty and devoid of customers coming to shops.

Even as the store owners in the malls highlight that most of the customers have transitioned to online transactions, they said a sizable majority of customers still resort to cash transactions. 

Post demonetisation, electronics, jewellery outlets  clothing stores, retail outlets, food and beverage outlets, multiplexes are also facing a huge decline in sales.

Most of the shop owners said that a sharp drop in sales of fifty per cent has taken place. The owners also mentioned that already facing a challenge of paying huge rents for their stores, the drop in sales will further add to their losses and they may have to close their stores. 

Rahul Adlakha, who runs a clothing store at Grand Mall said: “Even as most of our customers transact through their credit or debit cards, the majority still prefer to deal in cash. Now, we have lost about sixty per cent of our customers.”

Abhishek Rawat, Sales manager at an electronic store said: “We have seen a drop of sales by as much as eighty per cent. Not only are our customers who used to deal with us in cash not coming but also people who used to pay us through cheques have reduced. With things uncertain in the dispensation of cash, many customers who paid us through cheques want to ensure that they have enough reserves in their account.” 

The food and beverage manager of Pirates of Grill, one of the famous fine dining restaurants in the city said: “Most of our transactions happen through cards so in that case we are not as affected as other F&B outlets. However, this weekend, we did see less crowd. Most of our customers needed to go to banks to get their currency exchanged for their daily requirements.”
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