New Year sales fall flat as consumers in saving mood

Nepali consumers are holding onto their money because of high interest rates and rising prices, insiders said.

New Year’s Day of Bikram Sambat used to be the second busiest shopping season after the Dashain and Tihar buying frenzy, but this year the market is quieter as Nepali consumers are holding onto their money because of high interest rates and rising prices, insiders said.