Modern retail severely dented due to 2nd wave of Covid: SCAI
By IANS |
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New Delhi, April 18 : The second wave has severely impacted the modern retail industry, said a statement by the Shopping Centres Association of India (SCAI).
In a statement, the industry body noted that it has been urging the government to support the industry with financial waivers and allow shopping malls to operate once they reopen the other markets.
In order to supplement the government s effort in carrying out an extensive vaccination drive, SCAI has also approached the state governments to conduct the vaccination camps at malls.
Covid19 second wave-led local restrictions, curfews halve malls, shopping centres’ revenue
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In a statement, the industry body noted that it has been urging the government to support the industry with financial waivers and allow shopping malls to operate once they reopen the other markets.
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Malls across India had recovered close to 90 per cent of their business and 75 per cent of their footfalls which drop drastically due to the local restrictions.
With weekend curfews and local restrictions across key states of India mall developers and shopping centers have started registering over 50% loss in their revenues owing to massive decline in footfalls.
Retailers, MSMEs, daily wagers hit hard by 2nd Covid wave
A mall looks deserted in the Capital on Sunday - KAMAL NARANG×
Malls, restaurants grappling with revenue loss as most States impose curbs
Businesses, including malls, retailers and restaurants, are in a disarray as they grapple with restrictions, including weekend lockdowns and night curfews in different states and districts, as the country faces the second wave of Covid-19 pandemic. But daily wagers, casual workers and MSMEs, which lack deep pockets, have been hit the hardest.
Dalip Sehgal, CEO, Nexus Malls said, “With different rules and restrictions across states, it’s not just becoming difficult to conduct business, but it’s also leading to a lot of ambiguity amongst customers leading to a rapid decline in footfalls and sales.
Many state governments have imposed restrictions and localised lockdowns to stop the spread of the virus. . local restrictions, closure of malls in few states, weekend curfews have impacted business, recovery, and employment associated with organised retail, the association said in a statement. On an average during pre-Covid days, the industry was clocking Rs 15,000 crore per month and had reached the same during mid of March 2021, but, with the local restrictions, almost 50 per cent revenue got slashed , it said. As per the SCAI, malls across India had recovered close to 90 per cent of their business and 75 per cent of their footfalls which again dropped drastically due to the local restrictions.