Taking into account the latest GDP data in India, we find that the services sector has done exceedingly well thanks majorly to the transport and hotel sectors. The retail sector is one such that is in the limelight post the pandemic as the demand normalisation and uptick in sales is expected to create profitable opportunities for the sector just as in the case of the hotel industry. The retail sector was undoubtedly the most negatively impacted sector owing to the strict pandemic-triggered lockdowns in India. However, after a tough two years the retail sector is all set to attract both customers and investors as vibrancy is seen in the sector once again.
Says Ashwin Gandhi, Promoter and Partner, Kohinoor Mall, “At Kohinoor Cloth Store which is our 80,000+ sq. feet premium retail space, we have seen sales reach the pre-pandemic levels. Compared to 2022, the retail market looks very upbeat and we are witnessing good footfalls in our new venture Kohinoor Mall as well. The consumer demand has gone up and we are expecting a very good wedding season this April and May. Over the last two years, the lockdowns didn’t allow consumers to visit shops and consumption was curtailed due to extraordinary conditions. Now, the entire sentiment is very upbeat in the retail industry. I see more and more people visiting the mall every month.”
Retail Sector in India
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