Retail in a Click

COVID19 has forced the retail industry to shift its business model and focus on online capabilities. The pandemic has also altered the consumption volume in the retail sector, with higher consumer preference for home deliveries rather than visiting stores.

- Utkarsh Gupta, Director, Ramagya Mart

The retail market has always been one of the fastest and dynamic sectors in India but the unprecedented situation created by COVID 19 has made quite an impact on this sector. Despite the setbacks, the industry recorded 93 per cent of the pre-COVID sales in February 2021, but the second lockdown during the month of April, derailed the process again..

The pandemic has forced the industry to shift its business model and focus on online capabilities. The second wave has directly affected the production, demand & supply chain, and operations of the Indian retail sector. The disruption involves all the activities of reselling new & used goods primarily to the general public for consumption. The pandemic has also altered the consumption volume in the retail sector, with higher consumer preference for home deliveries rather than visiting stores.

Retailers have been experimenting with a myriad of ways to provide the best services to consumers. But they need to understand how they should use the technology and nd new innovative ways to build up the new business model, driving the business digitally along with their traditional methods.

Digitalisation: The New Deliverance