Faced with a global collapse driven by lockdowns and the shutdown of tourism in all key markets, the luxury industry is expected to witness an estimated contraction of between 20 percent to 35 percent for the full year, as per a report by Bain & Company. The industry witnessed an estimated 25 percent in the first quarter of 2020.
Embracing the cultural and behavioural shifts that Covid19 introduces, Vinod Cookware, one of the largest Cookware Brands in India, aims to strengthen its existing online presence aggressively. The company aims to use technology to augment people, and develop the Omni-channel Business Model, which can transition offline activity into Digital.
Food and cinema, which are two main segments that attract footfall at malls, are expected to be impacted the most post lockdown. This was highlighted by the leading retailers and mall owners in a webinar organized by Retailers Association of India.
Amidst the extended nationwide lockdown owing to the coronavirus pandemic, tech-enabled D2C logistics aggregator Shiprocket has partnered with Dunzo, India’s leading on-demand delivery e-commerce app. The partnership will focus on Shiprocket’s recently launched hyperlocal delivery services for essential items such as groceries, pharmaceuticals, and food items.