Lack Of Business : 50,000+ Shops Shut In Blr

The business is not as usual in cities even as the lockdown is lifted stages-wise. Businesses of several retail outlets across various cities have been drastically hit with the decreased walk-ins as a large number of people are still afraid to step out for shopping due to Covid-19 spread. On the other hand, online shopping has picked up.

Heavy discounts, home delivery are tempting the consumers to opt for online purchases. Thus, the physical stores and outlets are running out of business forcing them to shut their stores. Several shops in various cities are badly hit. Footwear, garments, stationary items, mobile accessories, small eateries, restaurants are running their retail stores with losses.

According to a news report by the Times of India, over 50,000 shops in Bangalore have been shut down due to the lack of business due to the Covid-19 pandemic. It is reported that several other shops are on the verge of closure. Some shop owners and merchants whose livelihood depends on sales are keeping their fingers crossed that if sales won’t pick up by the coming festival season, many of their shops may have to be shut. High rents, salaries to employees, power bills and increase in maintenance of shops (like daily sanitisation and keeping hand sanitizers) are the major challenges for sustaining the retail business in Covid times.

The situation is no different in cities like Hyderabad where To-let boards for commercial spaces and businesses sprung up. This in turn is affecting the property owners who are bound to pay the EMIs for the loans acquired. Even residences are witnessing increased to-let boards. Work-from-home provision for private employees and several migrants leaving the cities for their hometowns are resulting in the vacant houses and shops.

If the situation persists for another 3 to 4 months, it would be a death-knell to several small businesses. All the businessmen, allied businesses, property owners and even the public are eagerly looking forward to the vaccine for Corona Virus. Let’s wait and see, what is in store.