“With the lockdown being eased and restrictions being lifted across various parts of the country, we have witnessed a spike in demand for undergarments alongside basic clothing items such as bermudas, track pants, T-shirts,” said Vinod Kumar Gupta, the managing director of innerwear company Dollar Industries.
Like Da Milano, a host of small-to-medium Indian brands, including Chumbak, Meena Bazaar and Metro Brands, are either shutting outlets or freezing expansions even as they are ramping up their ecommerce verticals.
Customers can also place an order on Amazon.in with guided assistance from the store staff and either pick up the order from the store or get it delivered at their doorstep, it said. The store owners can now leverage Amazons last-mile delivery program 'I Have Space'to deliver packages to customers in their area as well as facilitate pickups.
"Over the next 12 months, we believe in-city warehouses will gain traction, to be used as small distribution hubs. We expect occupiers to scout for in-city warehousing space in the range of 5,000-10,000 sq feet in major demand hubs such as Mumbai, Bengaluru and Chennai and the NCR," the report said.
“Business in malls and high streets are not coming back at all,” chief executive Sahil Malik said. Meanwhile, online sales have more than doubled in the last couple of months. “Online is the only saviour for us, so I am focusing on it at present as a growth channel and not just as a liquidation platform.”
The Retail Association of India said banks have made huge investments in the retail sector, and if the sector struggles to get back on its feet, a significant portion of that investment could turn into non-performing assets.
The study by Kantar reveals that for many retailers, there is a huge gap between the brand promise and customer experience. It said retailers have a huge opportunity to review their strategies, take the current challenges head on and look for ways and means to service customer needs better in the coming months.
This year’s Amazon event will be devoid of the usual Bollywood dancing and the endless supply of Indian street foods, foot massages and costume parties. Instead, hundreds of employees will plan and coordinate the sale from home, their only respite virtual mood-boosters like standup comedy and selfie competitions.
Dozens of retailers have filed for Chapter 11 protection this year. The pace through the first half of 2020 far exceeds the number of retail bankruptcies for all of last year. About 2 dozen stores have sought bankruptcy protection since the pandemic started.
Last week, Flipkart announced the launch of its hyperlocal services called ‘Flipkart Quick’ in various parts of Bengaluru, where consumers can book a two-hour delivery of about 2,000 products like grocery, fresh items and smartphones, among other electronic items.
The Confederation of All India Traders (CAIT) said that BCCI's decision “smacks” of “its lust for money” and questioned the urgency of the move when international mega sports events such as Olympics and WImbledon stand cancelled due to the Covid-19 pandemic.
Tectonic changes are taking place in the field of retail with the pandemic bringing about a decisive shift towards online buying, and technology can help even kiranas join the bandwagon, feel participants at an ET webinar
Chiefs of key companies are confident of the India story and are expecting focus on hygiene and immunity to continue, even as India adopts an increasingly digital ecosystem - one that could be highly beneficial.