Even amid marginal recovery in July, as compared to June, the Retailers Association of India (RAI) feel that Indian retail is facing roadblocks on the path to revival, as reported by ET Retail.com.
“Localised lockdowns, weekend curfews and not allowing formats like food courts and cinema halls to restart are creating roadblocks on the path to revival,” said Kumar Rajagopalan, CEO, RAI.
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The Indian retail industry has been able to narrow down the losses, which was at 80% in April amid complete lockdown to 67% in June and 63% in July. In the month of July, certain segments have seen signs of recovery, such as food & grocery and consumer durables, while fashion, beauty & wellness and sports goods continue to be challenged.
As Indian retail is facing roadblocks on the path to revival, RAI has cautioned that there could be serious fallout if the sector continues to be under pressure, impacting entertainment and manufacturing as well as artisans.