The year 2020 has been a challenging year as it was hugely affected by the unexpected Covid-19 pandemic. Let’s go through some of the disastrous effects of this pandemic on the economy and the Grocery Industry.
The global spread of coronavirus has affected every section of the economy all over the world. The nationwide lockdown in India started in late March and was subsequently extended multiple times. India imposing complete lockdown was the World’s largest lockdown which came at the cost of huge economic losses. Stringent restrictions halted most economic activities and caused millions of people, many of them daily wage earners, to lose their jobs and revenue streams. The services industry collapsed in April as most businesses were shut due to the extended lockdown.
The lockdown brought irregularities in the supply chain. Procuring groceries for the store owners came with added cost and the obvious risk of exposure to the virus. The vendors who did manage to stock up faced a new challenge of selling them, safely. The local vendors faced operational hurdles with the restriction on shop timings. The majority of the staff workers migrated back to their villages to be with their families. The decrease in the shop staff and delivery boys made matters worse for the store owners. Adding all these, the local vendors took a major hit as their business started to diminish. Since the general public was not allowed to go out, they started relying on the online delivery giants for daily grocery needs.