Retail in India: Coronavirus (COVID-19) Country impact

Retail in India: Coronavirus (COVID-19) Country impact

Summary

The Coronavirus (COVID-19) country report analyses how the pandemic will impact retail spend in India.

Retail in India is estimated to suffer a wipe out of ₹6,572bn due to Covid-19. The outbreak led to preventive lockdown across the country, bringing economic activity to a standstill.
Demand for non-essential items such as furniture, footwear, makeup products, etc. have declined markedly. Fewer social interactions and community gatherings have resulted in a shift away from non-essential categories.

Scope

- We envisage that many stores will remain closed even once restrictions are lifted and that footfall will be severely restricted through to the end of May.
- Fashion will be the sector hardest hit, with sales forecast to be down by 25%-30% on 2019 levels, as per Retailers Association of India (RAI) and The Clothing Manufacturers Association of India (CMAI).
- Steps such as deferment of EMI payments, loan waivers and financial aid to poor parts of society will lower the possibility of the economy entering recession

Reasons to Buy

- Use our revised market forecasts out to 2024 to understand how the Indian retail market will perform.
- Use our in-depth analysis to review how key retailers have responded to COVID-19.
- Use our data on key consumer shopping and lifestyle habits to see how the population have responded to the impact of COVID-19.