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. Karna...