The retail sector was significantly affected during the COVID-19 pandemic and has created a very unfavorable condition for the retail sector and the economy. Several retail stores were forced to take some drastic measures during the crisis, like downsizing and shutting down. Retail companies were left startled and are finding it very difficult to stay strong on the ground. The COVID crisis has equally affected both the organized and unorganized sectors. Organized sector entities somehow managed to find some recovery due to better access to finance, but the unorganized sector was completely knocked out.
As we know, a large number of migrant workers went back to their hometowns and have taken up small retail shops to support their livelihood. Things had started to recover slowly during the q4 of 2020 and q1 of 2021, but then the second wave of COVID hit again. Lockdown and stringent measures were used to control the second wave; however, retailers were left to fend for themselves. Now the restrictions are easing, and markets are open with certain conditions in place. In the last 15 months, the retail segment has suffered a lot, and traders are requesting proper policy change to survive the third wave of COVID, which is expected in few weeks.
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