MARKETS REİNVİGORATED BY EİD BUT CONSUMERS HOLDİNG BACK - TODAY'S ZAMAN
Many people have been preparing for the upcoming Eid al-Adha by budgeting for sacrificial animals and new clothes. As the feast approaches, crowds are making the trip to Eminönü, which is popular in İstanbul for shopping.
Merchants from Eminönü all point to the increase in demand, especially in clothing since it is tradition that children and family members wear new clothes during the feast.
Consumers say prices are reasonable as they can buy a skirt for TL 5-10 and trousers and children‘s shoes for TL 10-15. But when it comes to menswear -- pants, shirt, shoes and a coat -- one may need to spend at least TL 100. A family of four, if they have the purchasing power, should prepare to spend at least TL 400 for shopping.
Therefore, many shoppers in Eminönü say they will buy clothes and shoes for their children, and if they have extra money, they will buy clothes for themselves. When looking for products of a higher quality or specific brands, the amount that families can spend on shopping before the holiday can exceed TL 1,000. Tradesmen speaking to Sunday‘s Zaman say they are excited about the current demand and that Eid al-Adha has stimulated the market.
Moreover, it is expected that many consumers will prefer to use credit cards when purchasing. Federation of Consumers‘ Associations (TÜDEF) President Sıtkı Yılmaz told the Anatolia news agency that credit card charges have started to increase with the upcoming holiday on Tuesday. He noted that people are more aware of their needs and buy more items during this time of the year as they are seen as special days. Yılmaz warned that consumers should budget appropriately in order to prevent financial problems. "Consumers should also remember that many shopping malls and central places are crowded during these specials days. I advise them choose calmer periods and to always get receipts or invoices for their purchases. Receipts and invoices are crucial documents if one wants to return something after the purchase," explained Yılmaz.
Moreover, he mentioned that consumers primarily prefer credit cards when buying animals to sacrifice as well as clothing. He said credit card expenses are escalating and should be taken into consideration. "Consumers should only use credit cards for their expenses if they have that money in their bank accounts. Interest rates on credit cards are very high, and if they can‘t pay their credit card bill, the price of the animal [they have purchased] will actually be much more," said Yılmaz.
It is estimated that this year TL 3.5 billion will be spent on animals if the same number of animals are sold this year as last, since the prices for livestock have increased by 35-40 percent in one year. Every year 500,000-600,000 cows are sold, while as many as 2-2.5 million sheep are sold. If consumers show the same interest as previous years, it is estimated that TL 3.5 billion will be spent on animals for this year‘s Eid al-Adha.
According to an Anatolia news agency correspondent, the sale of cattle and sheep has started and prices range from TL 3,000-8,000 and TL 300-700, respectively. Consumers are complaining about the high prices, while livestock vendors are saying that prices are not as high as consumers are saying they are. Nida Alkılıç, a vendor who arrived in İstanbul after a 30-hour trip from Erzurum, said they were able to enter the city after various inspections without facing any problems. Alkılıç stated he recently sold a cow for TL 4,800 after bargaining from TL 5,000. A consumer said he bought a sheep the previous year for TL 375 that would now cost around TL 600. Another vendor, Barış Çelik from Ağrı, noted that he has not been able to sell any of his animals yet since people are complaining about the high prices. "We are complaining about the low prices, while consumers say just the opposite. We only add around TL 500 on to the prices, which is necessary for accommodation, food and transportation," says Çelik.
Agriculturalists‘ Association of Turkey (TZD) President İbrahim Yetkin said people will see fewer animals on the markets this year. "The reason is that livestock farmers think the demand for animals will be decreased this year due to high prices and, therefore, brought fewer animals," said Yetkin.
Turkish Union of Engineers and Architects‘ Chamber (TMMOB) President Turhan Tuncer said Turkey has become a country that does not have a sufficient supply of livestock for Eid al-Adha. He continued by saying that between the years 1980-2009 the population rose from 44 million to 72 million, while the amount of livestock decreased to 38 million from 85 million. "Half of the animals that are to be sacrificed are imported since there are not enough animals in the [domestic] market," explains Tuncer.
Salaries to be paid earlier
The government has announced that they will pay the salaries of civil servants and retirees earlier as in the previous year. This means that approximately 10 million people will receive their salaries before Eid al-Adha, which will lead to more activity in the market. Moreover, if the average salary of the governmental employees is calculated to be TL 1,500, the payment will reach TL 4 billion, and taking into account independent contractors, this amount will reach TL 5 billion. Considering the 7.5 million retirees in Turkey, who get an average pension of TL 500, it is expected that the government will be paying TL 8.5 billion just before Eid al-Adha. Since a great portion of this will be spent on shopping, it seems that merchants will be able to breathe a sigh of relief.
Moreover, the İstanbul Parking Authority (İSPARK), one of the companies of the İstanbul Metropolitan Municipality, has announced that open-air parking lots will be free during the first and the second day of Eid al-Adha. The municipality‘s statement explained that parking will be free for the 500 parking lots across İstanbul; however, enclosed car parks will still charge regular prices. İstanbul sunday‘s Zama