IMPACTS OF COVID19 AND THE SUBSEQUENT LOCKDOWN ON THE WELLBEING FOOTWEAR INDUSTRY

The pandemic has come up with fresh challenges for the country’s economy, causing a severely disruptive impact on both demand and supply-side elements that has the capacity to derail the growth story.

- Ashish Jain

The footwear industry was doing wonders in terms of business. The sector has seen a boom in terms of demand from its consumers and it was touching its peak before the pandemic arrived. People were finally understanding the importance of products from other countries apart from the chinese products. But with the arrival of the virus in India which led to the situation of lockdown not only the country’s economy got affected but all the business and all the industry has come to a standstill. The coronavirus has sent markets tumbling, as its ramifications to a swath of businesses and industries become more apparent. The cascading effect of the coronavirus is crippling all the industries including the footwear industry too. Earlier the industry which was touching its peak because of the new seasons arrival, new designs and new marketing and business strategies is now facing acute problems. The pandemic has come up with fresh challenges for the country’s economy, causing a severely disruptive impact on both demand and supply-side elements that has the capacity to derail the growth story. Shortage of raw materials from other countries, problems in the production has all led to a massive difficulty faced by all the industries.

Impact of the pandemic on the Footwear Industry