MUMBAI: Nobody expects consumer demand to recover in a jiffy in times of covid-19 even as lockdown restrictions are being eased.
Within this, demand for consumer discretionary products would take longer to revive. Titan Co. Ltd’s covid-19 update, issued late on Tuesday, reinforces this thought.
So far, the company has reopened around 43% of its stores across businesses. Titan said sales in stores that have restarted are at around 50% of business in normal times.
Indeed, this is a sharp decline but not unexpected a such in the backdrop of the covid-19 crisis. “With the covid-19 led disruption, severe impact on business performance was anticipated, especially due to Titan’s extensive presence in malls, which were closed even before the