There are people -- potential consumers -- all over the marketplace but the showrooms are unusually empty. Even in crowded and busy shopping complexes in the city such as Connaught Place, Darya Ganj and Lajpat Nagar, merchants and showroom managers are willing to spend a few minutes recounting Diwali festivities seen in the previous years, and the lack of it this year.

This would have been absolutely unthinkable during a peak season like Diwali when salespersons are at their wits end obliging customers.

But this year, there is no festive mood, complain most merchants. Others said that sales have picked up only since Thursday.

Almost every merchant contacted said his sales was down to 50 per cent of the previous year's level, the discounts, freebies and schemes notwithstanding.

The inflation in theeconomy, the political instability, the liquidity crunch, the falling Sensex, the weakening rupee and more recently the US-64 imbroglio, together seem to have dampened spirits of Delhi's extravagant shoppers.

Consumers are unwilling to open their wallets wide this year, say retailers across the city. "Even black money is not in circulation," said a couple of merchants, "as state elections are due by the end of November."

"I have received fewer greeting cards this year," remarked MM Aggarwal of Mohanlal Sons rather wistfully on the sad state of business this year.

On the festivities this year, Aggarwal said: "The mood is subdued. People are shopping under compulsion and not due to festive mood."

"Shopping has been reduced to a mere formality," observed Narain Daswani, general manager, Jainson Department Stores. "Most consumers are shopping for gift items rather than for themselves," he explained.

Even dealers of consumers electronics and durables are shaking their heads in dismay. Many of thesedealers had been keenly awaiting the arrival of the festive season to clear their shelf space.

According to Rajiv Aggarwal of Aggrelios and Co, an electronics and durables dealer in Darya Ganj market in central Delhi, "As against cash sales of Rs 7 lakh on a particular day last year, this year on the same day, I have made sales of only Rs 3.5 lakh." He added that on Thursday, the first sale was clinched at 4:00 pm.

Concurred SS Arora of Shyam Electronics, "Sales have picked up in the last three-four days, otherwise, Diwali this year is very "phiki" (colourless)." At the Connaught Place market in the heart of the city, Baldev Advani of Berco's Melody House too had a similar experience to narrate. Perhaps the only electronics dealer who appeared more enthusiastic than the others was Sanjay Gupta of Manoj Electronics in Darya Ganj market.

Incidentally, all four dealers say corporate gifts, which constitute as much as 40 per cent of the sales during the festive season, have almost disappeared this year."Corporates used to place orders for 100-200 pieces every Diwali. This year, there are no enquiries," stated Berco's Advani.

Aggrelios' Aggarwal said he has not received a single bulk order this Diwali. Shyam Electronics' Arora stated that bulk orders received by his store were just about 20-25 per cent of the quantity placed on it last year.

Manoj Electronics' Gupta felt that the corporate orders have dropped as companies have through the years provided their employees with most of the appliances available in the market. "There isn't anything new in the market, no new products launched," he added.

The durables and electronics companies such as LG Electronics, however, have a different story to tell. According to LG Electronics marketing head Rajeev Karwal, "Sales of durables and electronics are buoyant in all markets except cities such as Calcutta and Kochi." These markets, he added, had seen large purchases during the Puja and Onam.

Karwal further stated that sales of all products, includingairconditioners, microwave oven and refrigerators, are showing healthy trends this year. A Samsung spokesperson said the schemes being offered by consumer durable companies have created a pull in the market.

The situation is no different in other stores. Take the case of jewellers such as Enchante, Roopchand or Tanishq.

On Friday afternoon, there was hardly any customer at the Tanishq showroom in Connaught Place, while Mehrasons, which retails the Enchante range along with its own collection, had just a handful of people checking out pieces of jewellery. At Roopchand, a relatively smaller showroom in comparisons to Mehrasons, the sales persons would be seen twiddling their thumbs out of boredom.

Said Roopchand's Govind of this Diwali, "There's no fun this Diwali. Sales of jewellery items are down almost 50 per cent." Nobody is even buying silver coins either this year, he said.

Enchante's marketing manager Sandeep Jain said, "The number of customers visiting our showrooms have declined almost 40 percent. This has translated into lower sales. However, since we have been advertising all along, we have not been hit very badly this year."

Jain added that the value of purchases has also shown a decline. Further, with the gold losing its sheen during the last one year, many customers, particularly, the younger generation are opting for diamond jewellery, he said.