Buyers are staying away from malls amid the new wave of the pandemic. This has dealt a big blow to SAIL at the beginning of the year, when people usually shop heavily.
Buyers are staying away from malls amid the new wave of the pandemic. (Image: PTI)
Covid-19 Effect: Buyers are staying away from malls amid the new wave of the pandemic. This has dealt a big blow to SAIL at the beginning of the year, when people usually shop heavily. According to the Economic Times report, the number of people in the big malls of Mumbai, Delhi and Bangalore has seen a decline of 15 to 25 percent compared to the same period last year. The report said that according to industry experts, they expect the withdrawal of restrictions like night curfew and weekend curfew to hit the business.
However, he believes that its effect will be for a short period. Because the infection is not looking as serious as the previous waves of corona. They are expecting the administration to refrain from taking drastic measures and allow most economic activities.
The cell had reached the level of Corona before
According to the report, Pushpa Bector, executive director of DLF Retail, said that this is due to the closure of cinemas, restaurants running with 50 percent capacity and weekend curfew in Delhi. He said that before these restrictions, SAIL had reached pre-corona levels and they are expecting this lockdown to last for a short period.
The restrictions have been imposed in the midst of the biggest shopping season of the year. Many retailers have the highest annual sales between Christmas and the first week of January. Along with this, brands also have an end-of-season sale usually in the second week of January.
The movement of people has further reduced in cities like Mumbai, where no restrictions are applicable. People are taking precautions as a large number of new cases of corona are being seen in Maharashtra and its capital. There are also concerns about the rapid spread of new Omicron variants of the corona virus.
Wedding season shopping shock
According to the report, Mukesh Kumar, chief executive of Infinity Mall, Mumbai, said that of course, there are concerns about the infection, which is reflected in the 15 percent drop in the number of people. He said that even the retailers are not making any big announcement at this time. According to him, no major announcements regarding discounts and offers have been seen in the mall to attract customers.
Events and weddings also take place in large numbers in January. These have now become limited and this will hurt the demand for clothes worn in weddings. With this, companies are continuing to work from home, which will also affect the sale of clothes worn in offices. But those running the mall believe that it will be for a short period.