In India Retail sector is mainly divided into three sub sectors, namely Organized Retail, Unorganized Retail and E-Commerce. According to IBEF, from the beginning of this century, organized sector is growing rapidly; it reached US$ 950 billion in 2018 at CAGR of 13 per cent and is expected to reach US$ 1.1 trillion by 2020. Online retail sales were forecast to grow 31 per cent y-o-y to reach US$ 32.70 billion in 2018. Revenue generated from online retail is projected to reach US$ 60 billion by 2020. Moreover the Indian E-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017.
So, in a very good situation for retail industry the economy is interrupted by Covid-19 Pandemic. We have tried to forecast future customer traffic in retail industry across these three sub- sectors. We have conducted study on 100 people of different ages, segments and geographical location.
Nowadays, people are very much concerned about health security in shops and are very much afraid of going to supermarkets and shopping malls, so they are mainly shopping from unorganized local retailers and e-commerce companies. Our study reveals that customers are going to carry on this trend, although the trends for different commodities are going to be different.
Among our respondents, 60% are willing to shop electronic gadgets, specially mobile phones and laptops online, because they considers that these products could be bought by only looking at the features and there is no need of personal touch. Some urban respondents are also willing to buy FMCG items from e-commerce. We also 0bserved a trend of increase in buying apparel products online.
Here we could observe a shift of customer traffic from unorganized retail, and organized retail sector to e- commerce in the FMCG and apparel products.
Now, coming to organized retail sector, customers have expressed reluctance to buy FMCG products and electronic gadgets from organised retail stores like Big Bazzer, Pantaloons etc. due to safety issues. For apparel also people are largely considering e-commerce.
In this hard time people who have made profit are local grocery store owners. They along with other unorganized retailer are expected to have more customers in post pandemic era. Our respondents have expressed their will to buy, FMCG and apparel products from unorganized retail stores.
Conclusively we can say organized retail sector may not be able carry on their rate of growth in post pandemic era, where as e-commerce sector is promising.
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