The staggered relaxations during the two-month-long nationwide lockdown did not have much of an impact on retail business and their businesses witnessed a severe contraction during the period, according to a survey by the Retailers Association of India (RAI).
No doubt there was severe de-growth in businesses across sectors and regions. During the stringent lockdown in April and May, retailers lost around 80-90 per cent of their last year sales. The relaxations provided by the government in May were ineffective as retailers across the board continued to lose, as per the survey.
The impact on retail across the country is of concern and it will take a considerable amount of time for retailers to return to the green.
Retailers hope that the government and other stakeholders will take note of this situation and help in boosting customer sentiment by enabling smooth functioning of retails stores across the nation by addressing State and local level issues.