Changing times post-covid: How will the retailer survive?

Vol-6 | Issue-05 | May-2021 | Published Online: 15 May 2021    PDF ( 263 KB )
DOI: https://doi.org/10.31305/rrijm.2021.v06.i05.008
Author(s)
Subhanan Dey 1; M Rajkumar 2

1Research Scholar, Faculty of Management Studies, ICFAI University, Jharkhand, Ranchi, India

2Associate Professor, Faculty of Management Studies, ICFAI University, Jharkhand, Ranchi, India

Abstract

The world has shaken all of a sudden. Reason being Covid-19, which is changing the way consumers behave, and how marketers and businesses are responding to the changings needs of the changing times. The pandemic has also left an everlasting impact on the Indian economy as a whole, and the Retail industry, in particular. Retailing essentially, is the sale of goods and services from businesses to an end user or a customer. Their major role is in breaking bulk, so that the large quantities in which they are received from manufacturers can be rolled out to B2C customers in small packs as desired by them. The Government of several states had imposed lockdowns in 2020, and even in 2021 the same is continuing as the second wave has currently hit badly. This has impacted the way businesses operate, and Retail sector in India had been hit badly too. How will the retailers survive in the post-covid era? What are the challenges that the major retailers across formats have been experiencing? What are the best practices that have been done to survive the brunt till date? Can the same be replicable by others? Probably, just some of the questions that are hovering in the minds of those into the trade, as well as the ones who take interest in the trade! This article seeks to answer just the above-mentioned questions.

Keywords
Covid-19, Retail Operations, Retail Marketing, Barriers, Indian economy
Statistics
Article View: 370