The fashion industry has been hit the worst largely because of the fact that the malls got closed, the store closed, highlighted industry experts at the webinar organized by Retailers Association of India (RAI).
Shopping Centers Association of India (SCAI) suggested that shopping malls should be opened in three phases, once allowed to be operational In the first phase, it said, supermarket, infant’s clothing, electronics, and salon should be allowed, food courts and multiplexes in the second and third phase, respectively.
India is currently under the second phase of lockdown, subjected to rising cases and fatalities of the global pandemic. Of all the industries that the coronavirus outbreak has put to test, retail is the worst. According to several industry analysts, clothing, dining, and grocery retail might need another year to recover the ongoing losses.
Sales opportunities for non-food retailers are scarce amid the COVID-19 pandemic as lockdowns are enforced and non-essential stores remain temporarily closed. However, with 59.8% of consumers globally using salons and spas for treatments, the desire to replicate salon treatments at home will provide a much-needed revenue stream for
beauty retailers, says GlobalData, a leading data, and analytics company.
The coronavirus pandemic amid an economic slowdown has hit revenue at Indian retailers selling non-essential items like clothes and jewellery by 75% so far and is likely to cause widespread job losses, an industry body said.