No industry or individual has escaped unscathed from the lockdown, and retail lies at the very intersection. A recent survey by the Retailers Association of India (RAI) of more than 150 retailers – big and small, revealed that lockdown relaxations have done little to relieve the pain of the sector. A business assessment for the past 3 months (March, April and May 2020) shows severe degrowth in businesses across sectors and regions. During the stringent lockdown in April 2020 and May 2020 retailers lost around 80 – 90 percent of their last year sales.
KEY FINDINGS
The food and grocery segment witnessed 39 percent degrowth during the lockdown
The beauty, wellness and personal care segment faced a maximum 75 percent degrowth
Recording 81 percent degrowth rates, the western and southern regions were most impacted
Note: Figures represent a Y-O-Y comparison
Table 1: COVID-19 Lockdown severely impacted growth across geographies with acute impact in April and May
This story is from the July 2020 edition of Images Retail.
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This story is from the July 2020 edition of Images Retail.
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