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A weekly market is so called because it is held on a specific day of
the week. Weekly markets do not have permanent shops. Traders set up
shops for the day and then close them up in the evening. Then they may
set up at a different place the next day. There are thousands of such
markets in India. People come here for their everyday requirements.
Many things in weekly markets are available at cheaper rates. This is
because when shops are in permanent buildings, they incur a lot of
expenditure – they have to pay rent, electricity, fees to the government.
They also have to pay wages to their workers. These shop owners store
the things they sell at home. Most of them are helped by their family
members and, hence, do not need to hire workers. Weekly markets also
have a large number of shops selling the same goods which means there is
competition among them. If some trader were to charge a high price,
people would move to another shop where the same thing may be
available more cheaply or where the buyer can bargain and bring
the price down. One of the advantages of weekly markets is that most
things you need are available at one place. Whether you want vegetables,
groceries or cloth items, utensils – all of them can be found here. You do
not have to go to different areas to buy different things. People also prefer
going to a market where they have a choice and a variety of goods.
We have seen that the weekly markets offer a variety of goods.
However, we also buy things from other kinds of markets. There are many
shops that sell goods and services in our neighborhood. We may buy milk
from the dairy, groceries from departmental stores, stationery from other
shops. Many of these are permanent shops, while others are roadside
stalls such as that of the vegetable hawker etc.
Shops in the neighborhood are useful in many ways. They are near
our home and we can go there on any day of the week. Usually, the buyer
and seller know each other and these shops also provide goods on credit.