Even after the Government allowed relaxation in lockdown restrictions, most consumers in India seem to be quite reluctant in stepping out of their homes. And a latest survey proves just that!
Conducted by the Retailers Association of India (RAI), between 1 and 15 June, the survey underlines that retailers in malls reported a huge 77 per cent decline in business in the first 15 days of the month, reflecting low consumer sentiment in the country.
At the same time, high street retail witnessed a drop of 61 per cent in the same period. The survey had more than 100 large and small retailers as participants.
Categories that were reported to have taken a beating include quick service restaurant (QSR) and restaurants (70 per cent decline), followed by apparel and clothing (69 per cent decline), and accessories like jewellery and watches, etc. (65 per cent decline).
The retail trade association further shares in a statement that the “consumer sentiment continues to be at a low. This is consistent with findings of a recent consumer survey by RAI which revealed that 4 out of 5 Indian consumers would reduce shopping expenditure post the lockdown.”
RAI also highlighted that despite the retail industry slowly opening up, there haven’t been uniform relaxations on lockdown rules across the states in the country.
“The survey uncovers the urgent need for opening all forms of retail so India can start its journey back towards recovery,” RAI maintains.
