Shopping Centres Deal with an Insurance Crisis Amid a New Normal
The nationwide lockdown amid the COVID-19 pandemic has left the shopping centre industry in India and the world in the throes of a crisis. The need for hyper sanitization and social distancing has led to shuttering of malls all over the world. In India, the Government has yet to east restrictions on malls, which are reeling under the double impact of both a shutdown and retailers not being able to pay rent. Despite sending SOPs proposals, guidelines and petitions to the government, the shutdown hasn’t been lifted, even in a phased manner.
The May digital edition of Shopping Centre News brings its readers the current situation, very grim position of the shopping centre industry.
If mall developers are to bounce back after the lockdown lifts, it will only be through establishing their premises not solely as experiential playgrounds, but also as trusted and transparent safe havens. Aside from this, they will also need to work in tandem with retailers in their premises, who are suffering as much as mall owners and many of whom have been unable to pay rent over the past couple of months. The cover story also discusses the various technology measures malls are taking to lure back consumers once they are operational again.
Apart from this, the May edition brings to its readers, an indepth analysis of the insurance worries of shopping centres, brought about due to the pandemic. We tell you why insurance companies are refusing to accept any claims by shopping centres arising out of the shutdown.
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 pertaining to the Shopping Centre Industry in COVID-19 times with an emphasis on India.