Raymond has transitioned: Gautam Hari Singhania
Raymond has today transitioned to a more advanced digital ...
The textile and apparel industry was impacted as a result of lockdowns in several states with supply chain and business getting affected. For retailers, closure of malls and customers not stepping out due to the fear of the pandemic is the biggest challenge. The restricted movement of delivery agents, for online platforms is also highly affected as currently only essential goods and services are allowed to be delivered. Overall, with the spike in cases in leading metros like Mumbai, Delhi, Bengaluru, the consumer sentiments are subdued and once again the weddings are being postponed.
A revival of consumer sentiments has again been impeded?
With the pandemic at its peak, consumers are generally more concerned about their and family's safety. Presently, for everybody, the immediate priority is health and safety of family and friends. So, shopping has taken a back seat. We expect this scenario likely to continue till the second wave subsides. Businesses have been impacted because of the curfew, week-end restrictions and curbs on mobility of people. We also don't see any pent-up demand like the last time. The government opening up vaccines for 18+ is a great move that will help in curbing the pandemic and speed up the pace of economic recovery.