Humans are social animals, and a very important part of socializing in a country like India where open spaces are scarce are shopping centres. Unfortunately, with the onset of the COVID-19 pandemic, this social lifeline of the country has come to a screeching halt. For the past five weeks, shopping centres have become deserted, forced to shut in the wake of a nationwide lockdown to control the spread of the Novel Coronavirus pandemic.
To add to the woes of shopping centres – which include pressure of repayments to banks, even as revenue streams dry up – no relief seems to be coming from the government. However, instead of bowing down to the pressure, mall developers are rallying in the face of this black swan event. Mall developers, retailers, restaurant owners and entertainment players are rallying together, unite, determined to make it through the pandemic unscathed.
We at Shopping Centre News Bureau firmly believe that malls and retailers are the two pillars of a vibrant, essential eco-system for modern retail in India – the most powerful measure of any country’s economic health and they must stand unified to overcome this crisis.
This special digital edition of Shopping Centre News brings you analysis, reports, webinars on the impact, challenges, recommendations and opinions of industry experts which will help you take the right steps to help your business stay solvent in the fight against the COVID-19 crisis.
As always, I hope you find the issue informative and beneficial. Do log on to our website, www.indiaretailing.com to read articles, features and updates on COVID-19 and other developments on the global shopping mall industry with an emphasis on India.