Retail in India: Coronavirus (COVID-19) Country impact
Summary
The Coronavirus (COVID-19) country report analyses how the pandemic will impact retail spend in India.
Retail in India is estimated to suffer a wipe out of ₹6,572bn due to Covid-19. The outbreak led to preventive lockdown across the country, bringing economic activity to a standstill.
Demand for non-essential items such as furniture, footwear, makeup products, etc. have declined markedly. Fewer social interactions and community gatherings have resulted in a shift away from non-essential categories.
Scope
- We envisage that many stores will remain closed even once restrictions are lifted and that footfall will be severely restricted through to the end of May.
- Fashion will be the sector hardest hit, with sales forecast to be down by 25%-30% on 2019 levels, as per Retailers Association of India (RAI) and The Clothing Manufacturers Association of India (CMAI).
- Steps such as deferment of EMI payments, loan waivers and financial aid to poor parts of society will lower the possibility of the economy entering recession
- Use our revised market forecasts out to 2024 to understand how the Indian retail market will perform.
- Use our in-depth analysis to review how key retailers have responded to COVID-19.
- Use our data on key consumer shopping and lifestyle habits to see how the population have responded to the impact of COVID-19.
- Executive Summary
- Market forecasts
- Consumer behaviour
- Retailer themes and responses
- Market forecasts
- Headlines
- Total retail market vs. pre-COVID-19 forecasts
- Total retail growth vs. pre-COVID-19 forecasts
- Consumer behaviour
- Purchasing patterns snapshot
- Purchasing patterns: non-food
- Purchasing patterns: food
- Purchasing patterns: drinks
- Purchasing patterns: personal care
- Consumer habits
- Retailer themes and responses
- Contactless delivery
- Non-essential services stopped
- Retailers donate to hospitals
- Retail partnerships
- Appendix
- Methodology
- List of Tables
- Change in shopping behaviour for key non-food categories
- Change in shopping behaviour for key food categories
- Change in shopping behaviour for key drinks categories
- Change in shopping behaviour for key personal care categories
- List of Figures
- Total retail market vs. pre COVID-19 forecasts, 2019-2024
- Total retail growth vs. pre COVID-19 forecasts, 2019-2024
- Top 3 products that consumers stockpiled, bought more of, bought less of and stopped buying
- COVID-19 impact on consumer behaviou in terms of going out, preparing food at home and social media
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