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Sale of online retailers decline

COVI-19 has resulted in sales of specialised online retail verticals, such as Lenskart, Myntrz, Nykaa, Pepperfry, FirstCry and Zivame, have recording a decline of as much as 20 per cent over the last two weeks. In some cases, the decline has been as high as 35 per cent This downturn is expected to continue as people defer discretionary spending and companies cut marketing costs and discounts to increase runway in order to survive the Covid-19 pandemic

Expansion plans are also on hold for the next two months Offline retail constitutes about 30 per cent of Pepperfry’s business.These retail studios have seen footfalls drop by a third

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