The road to recovery for 'recession proof' businesses
The myth of being recession proof
India is known as a wonderful travel destination for the world. You could head for the hills, spend a holiday by the beach or go on a desert safari and so much more! India is also known for its big fat weddings with weeklong events, lots of fun and revelry. The wedding market, travel and hospitality, ride hailing platforms and even essential products were considered recession proof till the pandemic struck in March.
How the essential services were affected
When the lockdown came into effect on March 25, things went into a complete chaos. Milk delivery company Milkbasket faced many challenges in delivering supplies when the lockdown began. The company was unable to supply milk in many parts of the country as their vendors and employees were held by authorities for being on the road. This resulted in them dumping 15,000 litres of milk and throwing over 10,000 kgs of fruits and vegetables. Manpower, transportation and supplies were all affected. Things limped back to normal by the end of June when the company could resume 100% business in terms of services.
Say no to the big fat Indian wedding
The wedding industry, a $50 billion market, has taken a beating during this pandemic. In the capital the number of guests has been reduced to 50 again and this means bad news for those associated with the wedding industry like caterers, florists, photographers, DJs and wedding planners. Neha Mehrotra, Founder & Director, Foreign Wedding Planners (FWP) said that in the past, changes such as GST and demonetisation did not have the impact that has been seen this time round for their industry. (Pic: Infinite Memories)
A ray of hope
In the pre-Covid days, Jea Band used to have a very busy period during April - July and then again from October onwards. That is not the case with them anymore. The same can be said about DJs, who saw a 100% drop in business, in the first phase of lockdown. On the upside, event management company, Zeroin, which conducted an online wedding fair in September, Espousal, saw the online space for such events gain traction. (Pic: Jea Band)
The travel ban
The travel and hospitality sector has been one of the biggest casualties of the pandemic. No one ever imagined a world in which travel would come to a halt. Humans by very design are meant to be social and travel is woven into a person's life. When you are urged to stay at home, it becomes amply clear that with the virus around, expect the unexpected. Travel blogger Shivya Nath's assignments dropped to zero and but feels that we have to unlearn everything about travel we knew so far. Perhaps, it is time for India to implement new rules and strategies to make travels safe. (Pic: Shivya Nath)
When eating out is not an option
A report by Crisil Research had predicted that dine-in restaurants would see a 40-50% cut in revenues because of the disruptions caused by the pandemic. Slow recovery, it said, would begin from June. Though restaurants opened from June, it is still a long way to go before footfalls increase and business activity picks up like before. With masks, socially distanced tables, QR code menus, sanitisers and temperature checks as the 'regulars' that greet guests at restaurants in the present, the industry is now in a changed avatar altogether.