RETAILERS APPROACH FESTIVE SEASON WITH INNOVATIVE CONCEPTS, NEW PRODUCTS TO BRING CONSUMERS BACK IN STORES

As India opens up its markets and there are signs pointing to a positive consumer sentiment, the fashion retail segment – which has taken one of the worst hits – is bullish on the upcoming festival season, hoping that it will set the tone for a revival, and set the segment firmly on the path to recovery…

- Charu Lamba

India – and the world – has been forced to deal with the ramifications of COVID-19, health consequences, economic crisis, job loss, struggle for a livelihood for many. Every sector has been affected by the pandemic one way or the other, the Retail Industry being at the forefront of job loss, salary cuts, furloughs, and layoffs.

In troubled times, as the festive season looms, and India is opening up its markets, in the final stages of Unlock, and there are signs pointing to a positive consumer sentiment, there is a glimmer of hope. The fashion retail segment, which has taken one of the worst hits, is bullish on the festival season, hoping that it will set the tone for a revival, and set the segment firmly on the path to recovery. And they are certainly not leaving anything to chance. Small and large brands and retailers alike are undertaking measures to ensure healthy sales. These include amplifying their digital technologies, clever discount strategies, minimizing the scale of errors and leveraging the online gifting trend. Aside from this, retailers all over India are strictly implementing COVID-19 control measures across stores to encourage and ensure a safe shopping experience for consumers.

The industry is also employing digital technologies to boost sales both offline and online, automating and integrating supply chains and distribution processes, and amplifying digital marketing activities.