India’s 21-day lockdown may have thrown up an opportunity for online grocers to shine, but the rest of the e-commerce industry is drowning in the Covid-19 tsunami.
The shutdown, therefore, could turn out be a body blow for most Indian online retailers who are already sitting on massive losses. “The lockdown is already impacting economic activity and will make it worse,” said Yugal Joshi, vice-president of Texas-based consultancy Everest Group. “Every aspect of (the) ecosystem will get impacted. It will result in firings, hiring delays, and other challenges.”