Impact of Covid19 on Retail Industry of Pakistan

Abstract

This study is a based on the examination of the COVID-19 situation and its impact on the retail industry. As we have seen that coronavirus is spreading around the globe and impacts the customers with some significant changes when it comes to the customer behavior, product demand, factory, logistics service availability, retail store. The growth estimated in the year of 2020 and the actual was halved. Those were hit the hardest and the consequences was the worse for them to get back. On the other side technology was the impact to create on the customers to reflect the into digital transformation efforts. Cost cutting strategy was adopted as rather on spending the stores move up to latest technology by reducing the remodels and openings of new stores. Competition is so immense that the companies helped to make it big by throwing offerings in the market and lessen the bad impact of online shopping and enters consumers into a new different world of market. New contracts being designed and implemented with different courier companies, they grown up as well when it comes to see the new entrants in the courier industry. Departments formed and worked accordingly by understanding the ongoing situation of pandemic and act accordingly.