Lockdown 2.0 is over and we have moved into a phased lifting of restrictions. The new guidelines have brought with them sighs of relief for the retail sector. Let us take a look into the last week of lockdown 2.0 and how companies got ready for the restart.
Nielsen slashes 2020 FMCG growth forecast to 5-6%
The coronavirus crisis has caused a lowering of the growth forecast from a previous projection of 9-10%.
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Global retail sales fell by 9.6% in 2020
Global retail sales incurred a loss of $2.1 trillion due to the coronavirus crisis.
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Retailers in-house brands surge
Spencer’s Retail, Future Group, and Metro Cash & Carry have had more than 50% growth in their own brands of essentials.
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Reckitt Benckiser posts record sales
As demand for disinfectants surges, RB posts record sales and ramps up production.
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With the reopening underway, how will the consumption story pan out
Lockdown has people exhausting their stock of sin goods. There might be some “revenge” or “relief” consumption spikes.
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Some sunshine for FMCG & Durables amidst gloom and doom
HUL, Nestle, Coca-Cola, Samsung & Whirlpool have given their employees single-digit raises and bonuses to keep morale intact.
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New guidelines good start for the economy
The Retailers Association of India has called the new notifications from the centre a good start and hopes that the state governments will adopt them.
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Only 4% will visit malls post lockdown: Survey
A survey by Local Circles amongst other things states that only a few people will be willing to visit malls.
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India is betting big on storage sheds
Warehousing is slated to boom post-COVID-19 as manufacturing shifts out of China and e-commerce grows.
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Curious phenomenon of revenge shopping in China after lockdown
Long queues, fuelled by spending sprees seen outside brand outlets.
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JioMart intensifies grocery war with credit & incentives to kiranas
JioMart has doubled credit limit and allocated an executive each for Kirana stores to manage orders and inventory.
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Liquor worth Rs.45 crore sold on the first day of re-opening of shops in Karnataka
According to Karnataka excise department 3.9 lakh liters of beer and 8.5 lakh litres of Indian-made Liquor for sold on day 1.
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