NEW DELHI : India’s retail industry, which is dealing with prolonged store closures, could take months to revive as subdued discretionary spends and the longer-than-expected need for consumers to stay indoors impact clothing companies and restaurants.
Retailers will have to change business models, focus more on online delivery, ensure better hygiene, and liquidate stocks once they tide over the lockdown, said industry executives. “As soon as the stores and malls open, their first priority should be to encash inventory," said Rahul Mehta, former president of Clothing Manufacturers Association of India, which represents garments manufacturers and exporters in India.