Retailers Must Prepare for Transformation Post-COVID

With rapidly evolving consumer preferences and attitudes, businesses and retailers are embracing the change and preparing for transformation in order to provide a seamless shopping experience to consumers in the COVID and post-COVID eras…

- Charu Lamba

Bimal Sharma, Head – Retail, Advisory & Transactions Services, CBRE

Till last year, retail was an industry that was steadily growing and progressing. However, the pandemic brought a major paradox in the consumer sentiments affecting the industry in an unprecedented way.

The retail industry in Q1 and Q2 2020 witnessed the impact of the outbreak with multiple challenges arising in the business operations due to lockdown and social distancing norms.

With the unlocking and reopening of markets across the country during the end of Q2 have brought a transformation to the continuously evolving retail ecosystem in India, retailers are strategising and adapting to new market trends.

With rapidly evolving consumer preferences and attitudes, businesses and retailers are embracing the change and preparing for transformation in order to provide a seamless shopping experience to consumers in the COVID and post COVID eras.

In an interaction with IMAGES Retail, Bimal Sharma, Head - Retail, Advisory & Transactions Services, CBRE South Asia Pvt Ltd. shares challenges and way forward for the retail sector.

Excerpts from the interview:

How have different retail categories been performing? Give us a comparative evaluation, both from the shopping centre and high-street perspective?