Couple of days back, Warren Buffett in an interview to CNBC said “It’s fallen off a cliff. Not only has the economy slowed down a lot, but people have really changed their habits like I haven’t seen.”
Looks like Hyderabadis and Secunderabadis are changing their habits too. I heard a colleague who met with the manager of a restaurant called “Arya Tiffins Centre” in Secunderabad. It is a typical Udupi kind of joint which serves South Indian breakfast and snack items like Dosa, Idli, Uttappam, Vada etc and the beverages . It is frequented by office-goers and middle class families. It has a thriving business, with people having to wait a few minutes to get a seat during rush hours. Its average daily sale was about Rs 1,45,000, until six months ago.
Even today, the rush at Arya Tiffins is more or less the same. Yet, the daily sale has dropped sharply to Rs 1,05,000, a drop of over 30%. Ask the Manager, how could that be ? The Manager blames it on the changing habits of Hyderabadis to adjust to recession. Suddenly, the sales of Idlis has gone up significantly. Idlis are being seen as healthy and inexpensive, until recently ignored as dull and tasteless. Down are the sales of Paneer Dosas , Mushroom uthappams and fancy milkshakes.
Intelligent Indians, find indigenous solutions to imported problems.