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Apparel, small eateries, footwear to be worst hit from Covid-19

Jul 02, 2020 18:40 IST

The high-fixed-cost, metro-centric retail sector will face a major blow due to the Covid-19 pandemic, finds a new report by Ambit Capital. Low credit availability, job losses, pay cuts and changing consumer behaviours will hit even the lower discretionary category. The shift towards working from home will have the highest impact on apparel, quick service restaurants (QSR) and footwear brands, the report said. Social distance restrictions, limited footfalls will gradually affect supermarkets and cinema halls when they reopen as well. Adding to this pain is the fact that the 10 cities accounting for 50 per cent of revenues are slowest to recover.

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