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Issue #55, Autumn 2016 ISSN: 2037-108X

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The global spread of COVID-19 since January 2020 is resulting in a slowdown in economic activity across the world. The impact on India has been limited so far, however, increasing spread of the pandemic in the country over the last few days and the preventive measures being taken by the central and various state governments have severely restricted business activities.

"While the lockdown may continue for the next month or two, the cinema industry will take several months ('recuperating period') even after the lockdown is lifted, to get back to its feet, as the pipeline of content begins to flow again, and our patrons gain the confidence to step out of their homes and start visiting crowded places like cinemas.

Precautionary measures such as fever screening, keeping adjacent seats in theatres vacant being considered. Currently, retailers selling discretionary products from apparel to lifestyle merchandise are not allowed to open stores.

In India, under traditional business interruption insurance policies, physical damage to property is the only criteria to trigger business interruption loss, while pandemics and epidemics are specifically excluded. Insurance companies, therefore, are refusing to accept any claims arising out of shutdown.

All malls have been shut since the lockdown began, and retailers in those malls are not in a position to pay rents because their outlets are shut. This in turn makes it difficult for the malls to pay the banks. About 85% of a mall’s revenue is dependent on rentals.

Emkay Global expects PVR and Inox Leisure to post steep year-on-year drop in revenues at 19 per cent and 24 per cent, respectively.

It can be noted that shopping centres and malls, which tend to attract a lot of crowds, have been shut since mid-March, much before the lockdown was announced and if the social distancing strategies continue post lockdown as well, such facilities are unlikely to open.

The post pandemic society will witness a change in consumer behavior and overall lifestyle. It is estimated that consumers will be extremely cautious with their spending. The spending on luxury, travel, hospitality, and movies, fine dine, white goods, expensive gadgets, among others and see a drop.

Last week, 195 retailers and restaurants including Future Group, Aditya Birla Fashion, Arvind Brands, Domino’s Pizza, Adidas and Levi’s wrote a common letter to mall owners for a “collaborative dialogue” between shopping centres and tenants.

SCAI, which counts Nexus Malls, Prestige, Infiniti, DLF and Lulu among its members, has also proposed using only 50% of the parking areas and not allowing any events and promotions to take place in the common areas to prevent large gatherings.

Large operators of malls such as Xander-backed Virtuous Retail, Select Group, Phoenix Group and Blackstone-backed Nexus have not waived rentals for their tenants.

Disney Springs vice president Matt Simon posted Thursday on the official Disney Parks Blog that the area will reopen May 20 with enhanced safety measures to help prevent the spread of the coronavirus.

The FMCG sector includes non-durable household goods such as packaged food, beverages, toiletries and other consumables that are sold at a relatively low cost. The slowdown was steeper in the urban markets compared to the rural markets, across the four zones, the report said.

The company which retails Savlon range of sanitisers, has stepped up production at the facility in Himachal Pradesh to produce an additional 1.25 lakh litres.

Over the past few weeks, chief executives of Unilever, Mondelez, Hershey's Procter & Gamble, Coca-Cola and Kimberly Clark have said India’s Covid-19 lockdown protocols had led to severe supply chain disruptions and labour shortages, hurting business in the key market.

LG, Samsung, Vivo and Xiaomi are also rolling out hyperlocal sales platforms that will connect their offline stores to consumers searching products online so that the outlet nearest to the consumer can deliver the order, industry executives said.

Total income during the latest quarter stood at Rs 1,724.51 crore, up 24.78 per cent from Rs 1,382 crore in the year-ago period , Varun Beverages said in a regulatory filing.

PepsiCo India had volunteered to support the scale up of India's COVID-19 testing capacity through support provided to FIND.

These channel partnerships have been done in a phased manner, with Flipkart being the first e-commerce platform to enable the availability of its essential products in Mumbai, Bengaluru and Delhi.

GlaxoSmithKline and Horlicks have sold 5.7 per cent equity of HUL worth Rs 26,000 crore on Thursday to domestic and foreign investors.

I believe in being true to yourself. I’ve spent my entire life as a younger sister. My older sister was the tall one, the academically gifted one, and the soccer prodigy. People saw me as a smaller, lesser-than version of my sister. Everyone loved her and I wanted to be her. Without realizing it, I constantly put myself in her shadow. I allowed my identity to be connected to hers. I was comfortable there. We overlapped in high school for one year. She was the senior soccer captain; I was the freshman with something to prove. But, our coach made it clear I was not proving I deserved to be on the field in my own right, instead I was proving I could be as good as my sister. During this time, I felt trapped. There were expectations thrust upon me which were unattainable simply because we were two different people. When she graduated, I hoped the comparisons would end. That didn’t happen. During a soccer game my senior year I made a really good pass that was headed in for the game-winning

Nearly half of people polled were “not satisfied” with Biden’s response to Reade’s allegations. Only 19 percent said they were “very satisfied.”

Tara Reade, a former Senate aide to Joe Biden who has accused him sexual assault, told Megyn Kelly in a new interview that she wishes the former vice president would end his bid for presidency.

Outpatient dialysis facilities have also reported challenges, including separating COVID-19 positive and negative patients and protecting their own workers.

Two web designers say they were fired by Amazon for organizing a virtual town hall to hear from the company’s low-paid warehouse staff.

With this partnership, MTR products such as masalas, spices, Ready-To-Eat meals and breakfast mixes will be accessible through MTR stores and kirana tabs on Swiggy.

The survey, conducted by YouGov, an Internet-based market research and data analytics firm, showed that between March 15-April 16 this year, Zomato witnessed a weakening customer base from 46.3 to 41.7 whereas for Swiggy, the scores were from 48.8 to 42.4.

The staff delivering the meals wear protective gear like masks and gloves to ensure safety. Since Covid – 19 outbreak, Burger King says that it has further strengthened its restaurant procedures around food safety, cleanliness and hygiene and increased its sanitization frequency in all restaurants across the country.

Under the banner Rise4Restaurants, consumers can buy vouchers from any member of the National Restaurant Association of India and redeem them for a 25% discount on bills once restaurants open.

How to keep customers’ cravings alive has become a challenge for restaurants.

The company said it would announce the locations of the restaurants next week, with plans to open them on May 13.

The association has stated that allowing liquidation of the unsold stock will minimize the losses and introduce working capital by encashment of the existing liquor stock.

As per industry estimates, any standalone restaurant from an established chain could have alcohol inventory of ₹10-25 lakh lying with it. For five-star chains, the stocks are worth much more.

Impossible Foods expects to expand its retail footprint fifty-fold this year, it said, as demand for plant-based meat soars both in retail and restaurants among health and environment conscious customers.

"We believe that a technology-enabled home delivery based solution can promote responsible consumption of alcohol," Mohit Gupta, Zomato's CEO for food delivery, wrote in a business proposal to ISWAI.

While withdrawing its forecast for two- to three-year sales growth, Domino's said U.S. same-store sales were up 7.1% in late March and much of April, as diners under lockdown ordered home delivery more often.

Jaimini will be joining Pesto Tech, a career accelerator start-up, as their co-founder, Swiggy said in a statement.

The order directed pubs, clubs, bars and lodges to allow only one customer to enter their respective premises at a time and leave soon after purchasing liquor at the maximum retail price (MRP).

Expressing the sentiments of the industry, the National Restaurant Association of India (NRAI) said the 'logout' movement cemented the belief that the industry needed to take back control.

J&J, already the world's biggest maker of health-care products, is fulfilling its goal of gaining a new drug category with the transaction and dealing a blow to France's Sanofi, which had also courted Actelion.

The Bengaluru-based company plans to open 25 such 600-1000 square feet stores over a span of 12 months.

The company has also built up an auto referencing system for its stores to stock inventory based on target group and purchasing power of customers in a given location.

Brainbees Solutions, the owner of online baby products retailer, looks for a valuation of $400-500 million in a new round of fundraising

The total revenue was Rs 239 crore for the period, a jump from Rs 173 crore the year before.

Taking up a hearing on the petition filed by an advocate on Friday, the forum posted the matter to December 19, asking the company to file a counter. Citing several research studies and lawsuits filed against J&J globally

Currently, Toonz Retail runs 107 stores across India and in the coming year it is looking to come up with stores in Rajkot, Raiberali, Lucknow among other cities.

Mothercare is the latest brand after Mango, Forever 21 and Sephora, among other global labels, to change hands from DLF Brands.

The range has been launched offline as well through its 4 brand stores in premium hospitals across Delhi and NCR.