Tuesday, July 27, 2021

Impact of lockdown on the retail sector

Impact The Covid-19 lockdown and its effects has impacted the consumption pattern of the people around the globe. Now people are more conscious about what they need compared to earlier when they bought what they wanted without giving it a second thought.

Arvind Mediratta, Chairperson, Retail and Internal Trade Committee, FICCI posted on his LinkedIn account that impulsive buying and lifestyle upgrades are the driving factors of consumption for the retail sector. However, the chances of a quick recovery look bleak for this year as the customer is now consuming more consciously owing to the looming uncertainties. The re-imposition of lockdowns pushes these fancies further down the priority list of consumers.

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