Author: Sonali Awasthi, Founder & Designer, Spoil Me Silly
Over the past of couple of months, we, in togetherness, have gone
through monumental ups and downs; the most unexpected of changes, the details
of which I have no need to explain. However, when asked the repercussions of
this pandemic on small, artisanal retail stores like mine, the answer is
anything but simple.
through monumental ups and downs; the most unexpected of changes, the details
of which I have no need to explain. However, when asked the repercussions of
this pandemic on small, artisanal retail stores like mine, the answer is
anything but simple.
Business, Industry has taken a hit- over the course of recent history-
Covid-19 will have repercussions on far more than just those who contract it-
Businesses are floundering, its true- and none more than those which require a
customer’s physical presence: Tourism, Travel and Brick-and-Mortar Retail being
the hardest hit.
Covid-19 will have repercussions on far more than just those who contract it-
Businesses are floundering, its true- and none more than those which require a
customer’s physical presence: Tourism, Travel and Brick-and-Mortar Retail being
the hardest hit.
The question is simple- will You, dear reader, step outside your home to
shop for clothes or jewelry? And therein lies your dilemma- What small quasi-luxury
stores offer is not a need, it is simply a desire- one, pretty low in the large
scheme of things.
shop for clothes or jewelry? And therein lies your dilemma- What small quasi-luxury
stores offer is not a need, it is simply a desire- one, pretty low in the large
scheme of things.
Further to that effect is the fact that the economy has seen better
days, and the vast reaches of an ailing economy have not spared the common
populace- redundancies loom around the corner and the disposable income of the
buying public is limited.
days, and the vast reaches of an ailing economy have not spared the common
populace- redundancies loom around the corner and the disposable income of the
buying public is limited.
The jury is still out on whether we are going to go into recession-
regardless, demand for luxury goods and fashion WILL drop.
regardless, demand for luxury goods and fashion WILL drop.
The reality is quite harsh. The spring summer collections seem to be
lost anyways and there are bound to be surplus stocks. As we gear up to go in
for the festive season, cash crunch will be felt by all players, hence the
attempt to offer discounted prices leading to lower and reduced margins.
lost anyways and there are bound to be surplus stocks. As we gear up to go in
for the festive season, cash crunch will be felt by all players, hence the
attempt to offer discounted prices leading to lower and reduced margins.
The future collections will tend to be less opulent and luxurious and
will lean towards functionality and minimalism. There has been a paradigm shift
in consumer behavior where excess seems wasteful and recycling the new norm.
With increased social distancing, the need for fashion becomes far lesser.
will lean towards functionality and minimalism. There has been a paradigm shift
in consumer behavior where excess seems wasteful and recycling the new norm.
With increased social distancing, the need for fashion becomes far lesser.
I also feel that as India begins to open, a whole new world of
logistical details awaits- highest standard of sanitization, septic tanks,
gloves and masks taking away the romance and therapeutic value of shopping.
logistical details awaits- highest standard of sanitization, septic tanks,
gloves and masks taking away the romance and therapeutic value of shopping.
As the trial rooms disappear, so does the magic of brick and mortar
retail.
retail.
But all is not gloomy, and it is projected that online sales will see a
big boost.
big boost.
The Future is online, and digital. Where everyone indulges in safe
retail therapy until things get safer and better. The joy of discovering that
your favorite things can be home delivered will be the way forward. There will
however, some loss in sale up to almost as much as 40%.
retail therapy until things get safer and better. The joy of discovering that
your favorite things can be home delivered will be the way forward. There will
however, some loss in sale up to almost as much as 40%.
It is scary, seems hopeless sometimes. And yet, despite the bleakness
and blurriness of the future, and close to 2 months of no revenue, I remain
cautiously optimistic. I am relying on The Lipstick Effect, at least for the
immediate future. The vestiges of humanity will persevere through the pandemic
and I believe people will still purchase small, expensive goods as gifts to
themselves (like lipsticks!).
and blurriness of the future, and close to 2 months of no revenue, I remain
cautiously optimistic. I am relying on The Lipstick Effect, at least for the
immediate future. The vestiges of humanity will persevere through the pandemic
and I believe people will still purchase small, expensive goods as gifts to
themselves (like lipsticks!).
We have to. We will get through this. Till then it remains, simply, a
waiting game.
waiting game.
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| Sonali Awasthi |
(Sonali Awasthi is the founder & designer at Spoil Me Silly. Spoil Me Silly is a lifestyle store in Mumbai, India. Views expressed in the article are of the author.)
