Winter Sleep of the Pre-New Year Market; Merchants: There is No Business

Visual reports from various cities in Iran indicate economic stagnation and a sluggish market. Merchants say, "There is no business," the market has "fallen into a winter sleep," and there is no "smell of New Year." Reports from markets and shops in various cities, including Tehran, Isfahan, Quchan, Kashan, Abhar, Zarand, and Zanjan, show that shopping centers are empty of customers, or passersby are merely watching, with little buying and selling taking place. Citizen accounts from the markets also confirm these reports; some merchants have warned about widespread stagnation, stating that "there is no business," and passersby are just spectators, not buyers. A video report on Tuesday, March 21, from the "National Bazaar" in Tehran depicted the emptiness of the market. Some observers have noted that in the days when we were expecting a market boom coinciding with Ramadan and the New Year, an unprecedented recession has instead occurred. Another video from Kashan also shows that in the "New Year market, people are reluctant to even come out to the streets and markets to watch." According to this citizen report, "due to inflation and rising prices, clothing is being removed from household shopping baskets, and purchases have significantly decreased." A Telegram channel for civil market protests quoted the head of the Isfahan Clothing Union, emphasizing that the market situation has "discouraged merchants more than ever," reporting that "this year, people's purchasing power has decreased, and conditions are not suitable for the general public." The report states that "due to inflation and rising prices, clothing is being removed from household shopping baskets, and purchases have significantly decreased, causing merchants to face problems," and in some cases, despite "traffic in shopping malls, no purchases are made because people's purchasing power has decreased." In previous days, a journalist and economic analyst inside the country stated to Voice of America that the economic recession has led to the closure of markets, with most "shops having been widely closed." The recession in the market coincides with the continuous fall of the rial's value and the expansion of livelihood protests in Iran, with reports indicating that livelihood protests from retirees, nurses, workers, and merchants continue. The increase in livelihood protests across the country comes as the rial's value has fallen again following aggressive statements from Ali Khamenei regarding negotiations with the United States. The price of one US dollar in the market on Tuesday, March 21, was around 95,000 tomans, and the price of one gold coin was fluctuating around 78 million tomans. In this situation, observers have likened the market condition to a "powder keg" waiting for a spark.