Indian malls see shoppers fall amid coronavirus fears
As coronavirus spreads across India, consumers are staying away from shopping malls causing consumption to drop, especially in areas with confirmed cases.
A number of Indian shopping malls have seen fears of coronavirus and crowded areas negatively affect traffic. This will have an impact on the sales of brands with stores in affected malls, including a wide range of fashion and beauty brands.
Staff members from Pacific Mall and Vegas Mall in Delhi-NCR told ET Bureau that sales are down by between 10% and 20%. Pacific Mall’s executive director, Abhishek Bansal, also told ET Bureau that the past 15 to 20 days has seen a drop in shoppers in the mall.
“People are cautious and rightly so,” Harsh Vardhan Bansal, head of Unity Group, which operates Vegas and Unity malls in Delhi-NCR, told ET Bureau.
The recent Holi festival also saw less participation compared to recent years and, as a knock-on effect, less consumption of Holi-themed clothing and other products. Restaurants have also seen a marked drop in customers as many prefer to eat at home.
The Ministry of Health reported a total of 52 confirmed cases of coronavirus in India on March 11. Cases have been reported in states including Delhi-NCR, Uttar Pradesh, Kerala, and Jammu and Kashmir. The Ministry of Health has asked states to create early rapid action teams to contain the virus outbreak.
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