Second wave brings losses to offline only retailers

 



    With the second wave of covid-19 wreaking havoc in India, shopkeepers, restaurant owners, and mall developers have indicated they are expecting a drop in revenue, and sluggish consumer attitude may further delay recovery. 

    The limitations implemented across India have already
resulted in the temporary closure of physical retail shops selling non-essentials, and the increase in Covid cases is projected to keep customers home for a longer amount of time, further reducing demand. Almost 60% of retail establishments in physical environments such as those in markets, malls, franchises, and shop-in-shops, are having difficulty in operations. 

    The city of Delhi is enforcing a weekend curfew, and malls have been compelled to close till the end of April. Maharashtra has placed stringent restrictions, permitting only necessary services. Madhya Pradesh has declared curfews in Indore, Bhopal, and Ujjain till April 26. Karnataka enforced a night curfew across the state's cities. The tone in India is gloomy. Meanwhile, the merchants' group CAIT called for a 15-day lockdown in Delhi on Sunday.

    Weekend restrictions have had a significant negative impact on businesses across India. Footfall is down by 80% in India, while revenues are down by 60%. Unlike the previous time, there is no pent-up demand. Between November and March, malls in India regained about 90% of their pre-Covid business. 

    According to the Shopping Centers Association of India, an industry organization that represents malls across India, footfalls have already decreased by 75% as a result of local regulations. Businesses that went digital and continued to give an online shopping experience are able to make sales and profits with challenges in operations but fulfilling complicated customer demands.


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Location: Chennai, Tamil Nadu, India

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