Offline Retailers Take A Serious Hit: Omicron Wave Upsets Discretionary Cart
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12 January 2022, Mumbai:
Business dropped up to 60%.
Rising Covid-19 cases and stringent state-level curbs have hit offline sales of products across discretionary categories such as personal care, beauty, furniture, consumer durables, sports goods, jewellery, footwear, and apparel.
Retailers selling discretionary products said their businesses have declined up to 60% in the last two weeks and there is uncertainty about how sales will pan out this month and even the next as the third wave has prompted several states to impose restrictions including night curfews.
Footwear and apparel brand Woodland's sales are down by almost 60% in the last fortnight with the peak season lost due to curbs like weekend curfew, shortened store operating hours, and lower footfalls, said Harkirat Singh, managing director of Aero Club that owns Woodland.
Source: ET dt 12-01-2022
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