As we get set to welcome 2021, it is time to acknowledge 2020 for being a very revolutionary year in terms of retail globally. COVID-19 threw the Retail & Shopping Centre industries globally for a loop for almost the entire year. Lakhs of people lost their jobs around the world and a number of businesses remained shut for almost half the year, some even more than that. Such was the impact of the pandemic that many businesses shut down permanently. Lockdown, Unlocking, Social Distancing, Technology, Adaptation, E-Commerce, essential services were some of the keywords of 2020, the highlights of the year in retail in a manner of speaking.
As the decade comes to an end, 2020, with its unprecedented challenge, has unexpectedly contributed to the growth of retail. Despite the pandemic, the year turned out to be a big opportunity for retailers, forcing them to adopt technology and go Omnichannel, something which many players were still just thinking of.Even small retailers – whohad no choice but to look to innovation to help them navigate the crisis – adapted. New trends, experiential, innovation and multichannel retail continued to shine and change the rules of the game successfully.
So, while the beginning of the year was a major setback for the Indian economy, the end saw a lift in business and revenues, indicating a new hope, a new dawn and a new vision for the industry in the new year.
In this final edition of the year, we bring the spotlight on a state which has been the stronghold of traditional retail and which is now embracing modern retail – Rajasthan. We tell you how this hot, new and upcoming retail destination of the country is adding on new formats of modern retail in the form of shopping malls and adapting digitization and technology to its traditional markets. The cover story deep dives into the state of transition of this market, and how it is witnessing a series of investment and development in retail infrastructure and real estate.
Aside from this, the issue features a special coverage of Retail Employees Day ( RED). The RED celebration on December 12th, during COVID-19 was a tribute to the dedication and hard work of employees who worked despite the pandemic, stood in support of their brands and worked on the frontline to ensure consumers had everything they needed during the lockdown.
We also welcome 2021 and pray that it brings with a new hope – aside from new concepts, technologies and innovations for the retail industry, globally and in India.