Retail stores across India saw a massive hit as the country face a brutal wave of the COVID pandemic and over 80 percent of the country found itself under a lockdown.
In an interview with CNBC-TV18, Ritesh Ghosal, CMO at Croma; and Lalit Agarwal, CMD of V-Mart Retail, discussed the road to recovery as India now begins to unlock.
Ghosal said, “In terms of demand, we are seeing laptops are in big demand and very short supply; the summer appliances are still selling and the monsoon season is also picking up with washing machines, microwave starting to go faster.”
According to him, the number of shoppers is still down on a 2-year average. “People are buying things like laptops, smartphones; only the big articles which they need for their working life to be more productive. Since the small tickets have disappeared, the ticket sizes have jumped up drastically. The number of shoppers and number of ticket are down if you take 2-year ago as the benchmark,” said Ghosal.
Meanwhile, Agarwal said, “There is a revenge shopping, which is coming in. People are ready to come out and shop. However, there are still multiple restrictions in the market but footfalls are there. So, the average selling price has gone down but the number of pieces per basket has gone up.”
For the entire discussion, watch the video