As nation plans to re-open in Unlock 1.0, malls and stores move cautiously while adjusting to the new normal. The largest lockdown in the wake of COVID-19, which brought many industries to a standstill, is gradually being lifted, providing a chance to recommence.
“About 62 per cent of respondents said they were inclined to visit stores within the first three months post lockdown. This number goes up to 75 per cent in tier-II and tier-III cities.” — Retailers Association of India
Consumers are exhibiting signs of caution and conservatism which means sure but slower recovery for the retail sector. …
Over the past few months, the Coronavirus pandemic has upended many lives and businesses on an unprecedented scale. Retail industry has been bearing the brunt of this unforeseen crisis.
Given the uncertainty around the nature and duration of crisis, it is evident for retailers to quickly adapt to the emerging scenarios. They need to reshape their business in a more resilient and agile way.