The Future Of Indian Retail In The Pandemic-Hit World

The Future Of Indian Retail In The Pandemic-Hit World

SUMMARY

The lockdown saw an increase in digital payments to 42% and post-Unlock 1.0, there was another jump of about 23% in contactless digital payments

Some notable industries where re-commerce has seen a huge upward demand is two-wheelers, four-wheelers, furniture and electronics

Businesses are becoming smarter and realising that they need to alter their short as well as long term business goals

The Indian retail scene has seen many shifts and transformations in the last 30-40 years. From weekly bazaars in the days of our grandparents, to the neighbourhood mom and pop stores from our parents’ days to the new age, experiential mall culture, the scope and scale of the Indian retail experience has evolved multifold.

With the onslaught from Covid-19, globally, we have seen the collapse and disintegration of retail and sharp declines in revenues for some of the biggest retail giants. It’s also fair to say that some sectors have borne the brunt of this global retail meltdown harder than some others, but in general, the industry has suffered – probably it’s worst setback in a long time.

Note: The views and opinions expressed are solely those of the author and does not necessarily reflect the views held by Inc42, its creators or employees. Inc42 is not responsible for the accuracy of any of the information supplied by guest bloggers.

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