The Covid-19 pandemic has made fashion retail brands look at alternative ways to reach consumers, who remain restricted to their homes. According to Anurag Mathur, partner and leader, retail and consumer, PwC India, the footfalls at most retail stores have remained below 50% in comparison to the pre-Covid levels. However, according to Mathur of PwC, while these new models are worth attempting, they won’t make up for the loss of footfalls for retail brands. As fashion retailers grapple with the challenge of low sales, industry watchers have now pinned their hopes on the festive season to bring back the demand for fashion products in the country. Most fashion retailers are looking at 30-50% loss in revenues in FY21 due to the pandemic, experts say.

Source: The North Africa Journal July 26, 2020 03:33 UTC