COVID-19 continues to spread in India, although rates of infection growth are slower compared to most western countries. With the country under partial lockdown, restaurants, multiplexes and non-essential retail-like fashion and electronics are the worst hit sub-sectors. E-commerce players are racing to tie-up with neighbourhood grocery stores to meet the pent-up demand for essential goods. Many mall developers have given rent waivers for April and the government has increased liquidity in the economy through various schemes and rate cuts. Retailers are focusing on short-term loss mitigation, restructuring existing deals, revenue share models, store digitisation and redesign. The next three to six months are crucial for the survival and refining of the Indian retail industry.
With recent developments on reduction in restrictions and back-end operations commencement in various cosmopolitan cities, we look at what might be the key areas of focus for landlords and tenants alike, and which key trends will be capitalized upon.
Watch the webinar for more insights on India’s retail sector in a post-COVID world.
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DISCLAIMER: JLL and our staff are not authorized or qualified to guide or influence you in the preparation of your own business continuity or preparations plans from a health and public policy perspective. While we are making efforts to ensure we are providing an up-to-date list of publicly available resources, all details on COVID-19, as well as health and public policy implications, should be addressed with the advice of an independent specialist.