‘REVIVE CONSUMPTION IN SAFE RETAIL ENVIRONMENTS'
Point of Purchase|May 2020
In the midst of rising Covid- 19 cases that has derailed all activities , the continued lockdown, and the government’s efforts to kickstart the economy, where does the Retail industry stand? In a special interaction with Point of Purchase, Kumar Rajagopalan – CEO, Retailers Association of India (RAI), shares some thoughts on how to revive retail in the new normal, the future of retail, and more.
‘REVIVE CONSUMPTION IN SAFE RETAIL ENVIRONMENTS'

When and how do you see the retail sector bouncing back?

Recovery will depend on Government’s support to the sector. It may take a minimum of three quarters to stabilize. As per a survey conducted by RAI, 70% of retailers expect business recovery to happen in more than 6 months whereas 20% expect it to take more than a year. Considering the extension of the lockdown, in the absence of major support, as many as 20-25% of retailers may be out of business or will need dire financial infusion to stay afloat. We are hoping the Government can assist us to pay front-end employees by seeking 50% of their minimum wages from government. Some ways in which the government could help the industry to stay afloat include waiving property tax and minimum charges for electricity and easing of licensing norms. These are areas that need to be addressed, things that will bring about ease of doing business in the post-lockdown scenario. Various industry associations need to work closely as they are facing the exact same issues – working capital and retention of people.

Any specific segments within retail that you think are more affected, as also segments that are likely to bounce back faster?

Modern food retail has de-grown by 30-40% due to the supply chain problems, shortage of manpower with attendance below 30% and lower customer entry due to social distancing. Garments, Saris, Electronics, Mobile Phones, Furniture, Hardware etc. almost all stores are closed. Non-Grocery/ Food Retailers are reporting 80% to 100% reduction in sales. Even retailers of essential items are facing losses as they aren’t allowed to sell non-essential items, which would bring them higher margins.

This story is from the May 2020 edition of Point of Purchase.

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This story is from the May 2020 edition of Point of Purchase.

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