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Vaccine boost for retail & travel sector
December 28, 2020
After suffering from the Covid-19 pandemic, several industries in India across retail & travel sector are set to get back on their feet in the next year.
Various sectors like travel, retail & entertainment will get a boost once public confidence in vaccine increases.
Most of the retailers have recovered by 70-80% of pre-Covid yearly sales due to the bullish festive season in the country.
Rajat Wahi, partner at Deloitte said, “A lot, however depends on the further news on lockdown due to the new strain of coronavirus spreading rapidly”.
Auto sector is expected to bounce back in next year, after facing the longest slowdown in last 20 years. New model launch, replacement demand and supportive financing network are expected to grow.
FMCG displayed powerful signs of recovery in the third quarter of 2020 with a growth of 1.6%, after a decline of 19% in January & March.
Arvind Singhal, Founder, Technopak said, “Consumers may have less money in hands, which may impact optional spending.
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