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The coronavirus pandemic was a once-in-a-lifetime test of business continuity planning for retail businesses across the globe. Even when things have stabilized to an extent and economies are gradually opening up, the industry is being confronted by a string of questions, the hardest of which are:

Barrie notes: “Resilience has rarely featured in supply chain reviews, but companies must now build it into their operations if they want to avoid getting caught out in the future.”

This principle is applied in the BIRKENSTOCK 1774 collection – a new, season-less unisex drop that takes the most iconic of the brand’s styles and upgrades them with state of the art manufacturing techniques. The iconic cork footbed is wrapped entirely in soft premium leather, stamped with the 1774 custom seal. An ultra slim leather sole features a unique pattern of PU areas for durability, flexibility and anti-slip. This project is created with a long term view, developing new styles annually, consistently taking manufacturing techniques forward.

Aditya Birla Fashion and Retail on Monday reported a consolidated net profit of Rs 58.55 crore for the quarter ended December. The company had posted a net loss of Rs 37.64 crore in the corresponding period of the previous fiscal, as per a PTI report.

Now more than ever, luxury goods companies are seeking new ways to connect with their customers. They are reinventing and re-imagining themselves in ways that were previously unimaginable. Sustainability will be one of the main areas that fashion and luxury goods companies will rely on for their recovery. Global luxury brands have been investing significantly in ‘green’ technologies and other measures to reduce emissions from their factories. They are using carbon offsetting to contribute to the fight against climate change—compensating for emissions arising from their own industrial activities by participating in other schemes to make equivalent reductions.

The efficiency of business is mapped to cyclical working, moving away from the price offering which may not be a sustainable option. To focus on delivering value proposition by product options, timely delivery at the right price is the way forward. The ultimate goal is to win the customers’ confidence so that the consumption sees an upward trend.

Pola Orbis and Revlon’s Elizabeth Arden and luxury fragrances saw a decline in sales. Clarins’ fall in sales was due to the sale of its Mugler and Azarro brands to L’Oréal. Cosmetics and fragrance companies are larger than the Top 100 average, with luxury goods sales averaging US$3.7 billion.

Innovation – both interactive and engaging – has changed the dynamics of retail. In times that are tough, in order to reshape the concept of traditional retail, product innovations are gaining attention, aiding experiential retail and consumer engagement. These innovations usually fall somewhere in between the real world and the virtual world.

“It all depends on how smart and agile organisations are. Organisations need things differently so that they can smartly pivot their businesses. Perhaps this entire adversity has taught us to make a tunnel through the wall as opposed to saying there is a wall,” said Arun Narayan.

The role of the store will evolve from a simple point of sale to a touchpoint for consumer engagement: less tied to sales and more to attracting customers through measures such as introducing entertainment into the experience or through one-to-one personalized shopping expeditions. The store will then become a critical touchpoint for offering exclusivity to the customer.

The latest reports published by National Statistical Office (NSO) on the Gross Domestic Product (GDP) already shows that the country has recovered from a -24% to a -7.5% in Q2 of the FY. Also, India’s Forex has increased to an all-time high of $575.3 Bn. These statistics have positively impacted the sentiments and we are sure to see an upswing reflecting on the performance and investments into the markets by individuals and the FII.

The textile ministry had recently said a scheme and a Mega Integrated Textile Region and Apparel (MITRA) Park, in over 1,000 acres of land with state-of-the-art infrastructure, common utilities and Research and Development (R&D) lab, are under consideration.

Walmart Group undertakes various business activities in India, such as wholesale trading of products, providing e-commerce marketplace services, and digital payments services.

“The group will relaunch Debenhams’ website as an online marketplace, with its expertise at operating digital pureplays providing some hope that the retailer’s fortunes could be turned around, benefitting from the shift to online shopping.

Increased desire for safety would cost the retailer from cleaning to sanitizing, from training to the structural changes on the floor. The cost of operations have gone up, thereby making it imperative for the increased return / SFT and efficiency. Maintaining operational efficiency on manpower or the inventory planning would be the crux for competency.

The coronavirus pandemic was a once-in-a-lifetime test of business continuity planning for retail businesses across the globe. Even when things have stabilized to an extent and economies are gradually opening up, the industry is being confronted by a string of questions, the hardest of which are:

CMAI therefore, strongly recommends that:

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CMAI therefore, recommends that:

Luxury goods manufacturers have been hit hard by the COVID-19 pandemic. For several months, people have faced restrictions on traveling abroad and there is still uncertainty about when it will be possible to travel more easily between countries. There has been a collapse in inbound tourism across the globe during the lockdown, causing massive fall in traditional retail sales. Duty-free shops that generate sales mainly at airports have been hit badly by the collapse in global travel.

Roadster, one of India’s leading casual outdoorsy lifestyle brands, has announced the launch of Augmented Reality Tees (AR Tees) or the talking tees. With this launch, Roadster marries fashion, design and technology, offering shoppers a set of t-shirts that brings their roadster visual to life. This new range has been developed in-house by Myntra’s own Innovation Labs and is set to take the level of Innovation in fashion to the next level.

The world is increasingly moving towards the online business, offering to stay connected with a larger audience, and thus the multichannel approach for a convenient shopping is the New Business Charter. The shift to online is gradual, with an offline connect i.e., Click & Collect program.

The pandemic has also been a tech-opener for both organizations and consumers alike. Today, technology is evolving faster than it had ever before.

Von Wellx Germany is sold over 80 countries and has 100 million customers. The footwear is available at Metro, Mochi, Central, Centro, Lulu and other leading shoe stores at 500+ locations and online on Amazon, Flipkart and www.vonwellx.com. The price of the footwear starts from Rs 2,499 and it exceeds up to Rs 4,999. Von Wellx Germany provides health benefits to the wearer and at the same time maintains their fashion level.

> In the Financial Year 20-21, many companies in the industry will face a drastic drop in revenue and profits. In fact, it is very likely that more than half of the companies could end up sustaining losses. In such a situation, banks could unnecessarily panic and drastically curtail or withdraw the credit facilities to these companies – when in fact these facilities would be most required by them, especially MSME companies.