Even as the number of COVID-19 cases leaped, India's malls opened for business last week.
NEW DELHI — It has been a bittersweet start as malls were given the go-ahead to reopen last week after more than 10 weeks of lockdown.
It adds to the uncertainty that Delhi, Mumbai and Chennai — among the biggest centers of retail in India — continue to be among the top COVID-19 centers as well. In fact, Chennai recently shut down again from June 19 to 30 due to the increase in COVID-19 cases. Not all retailers have been ready to reopen — only about 50 percent opened their stores within the malls that opened last week as negotiations with mall owners for rent waivers and revenue sharing have gone on. Retailers are angry, demanding better terms after suffering from months of lost sales.
Only four to five shoppers are allowed in at a time, and with morning temperatures at times approaching 100 degrees, waiting in line can be brutal. Sales staff stand near the door with sanitizers, but customers are scarce, plus the earlier rules of alternate day openings in New Delhi have caused confusion.
Trying to gauge consumer sentiment is especially important since high rents and inventory costs continue to be a major issue for brick-and-mortar retailers, and warehouse and delivery safety measures for e-commerce players are still being negotiated. “If we look at India, we went into a very severe lockdown. But overall, because the number of cases and impact was low, even though people were in lockdown the optimism remained high for consumers from mid-March to early May. But the optimism in India has gone down drastically, from 52 percent in March to 42 percent at the end of May.
“A lot of stores are in malls, as those open this week, things will change. Even though there will be fear about going back to malls — I’m not saying they will not go — if 100 went, 80 might stay home, but 20 will go, and that’s a large number in India,” Malhotra said. “Next, we recognized the need for loungewear and leisurewear, which are comfortable yet functional, as consumers were at home, managing their office work and household chores together. We partnered with our brands to introduce fashion essentials comprising T-shirts, shorts, comfort wear, nightwear, etc., to stay relevant.
“We have resumed all e-commerce operations and are working closely with the leading delivery partners to ensure contactless e-commerce delivery,” said Falguni Nayar, founder and ceo of Nykaa, the biggest beauty e-commerce player in India, which has also been growing its physical presence. “We are back to pre-COVID-19 sales showing strong consumer demand.
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