Retail’s new learnings from a crisis

March 24, 2020 | By RetailME Bureau

Extraordinary times require extraordinary measures – be that organisations facing the odds together, franchisors and franchisees engaging in honest conversations, tenants and landlords sharing the pain.

According to retail professional, Ritesh Mohan, in the wake of the current crisis around COVID-19, most retailers will now prepare themselves by introducing a section in their P&L statements called “crisis budget” allocation as a ‘new learning’ from the current situation.

“The retail sector will learn from this crisis and will emerge stronger than before. In fact, the slowdown gives a moment to retailers and developers to relook at their strategies, their business again and pivot if required,” Mohan observes.

“It is time for all sectors irrespective of their differences and products to come together to help mankind in a bigger way,” he adds. “Think about the LVMH Group using their factories to produce sanitisers for French citizens. Unilever in India is ensuring adequate stock for their hygiene brand Dettol. Mahindra, an automobile group in India, is using their factories to develop ventilators for government hospitals.”

While this crisis too shall pass, measures are being undertaken by the retail community to alleviate each other’s pain.

Commenting on rent relief and stimulus package announced by several developers, Mohan says, “As most retailers are feeling the heat from COVID-19, owing to closure of shops, any news which can alleviate our pain is welcome. This move by the landlords will provide short term relief to retailers, especially mono or single-brand retailers. It is seen – historically – that the bigger holding groups, having heavyweight brands, tend to benefit more due to their higher exposure in the retail space. However, the need of the hour is to safeguard smaller retailers and small businesses in the region.

“In this hour, any measure or steps taken by authorities to prevent the spread of COVID-19 and safeguard the economic interest of the community are welcome,” he concludes.



Previous Article Next Article



Locally-owned supermarket Spinneys and pharmacy retailer Aster Pharmacy have joined forces to 

Continue Reading

September 5, 2022 | By RetailME Bureau
The pandemic has undoubtedly affected us all

Majid Al Futtaim has announced its audit reviewed operational and financial results 

Continue Reading

August 24, 2022 | By RetailME Bureau

Dubai’s largest developer Emaar has announced that it will sell it’s online 

Continue Reading

August 22, 2022 | By RetailME Bureau

Walmart announced this week that it will offer Paramount Global’s streaming service 

Continue Reading

August 19, 2022 | By RetailME Bureau

Employee retention has been on every company’s minds, especially since the fears 

Continue Reading

August 16, 2022 | By Shruthi Nair

The Frozen Chicken’ as Spinneys was fondly referred to back in the 

Continue Reading

August 8, 2022 | By Shruthi Nair, a Q-Commerce marketplace startup just announced their go live date in the 

Continue Reading

July 20, 2022 | By Justina Eitzinger

GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading 

Continue Reading

July 19, 2022 | By Justina Eitzinger

Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot 

Continue Reading

May 9, 2022 | By Shruthi Nair

Eid Al-Fitr is an occasion to gather with your friends and family 

Continue Reading

April 29, 2022 | By Zubina Ahmed

Leading retailer LuLu Group further strengthened its presence in the Emirate of 

Continue Reading

April 28, 2022 | By RetailME Bureau

Jones the Grocer, the Australian gourmet grocer and café chain, announces further 

Continue Reading

April 28, 2022 | By RetailME Bureau

Download Images RetailME Magazine