The free-spending elite are targeted for dissuasion by the reintroduced limitations on avenues of socialisation in the wake of regional resurgence of Covid-19.
The second Eid under the long shadow of this pandemic, having hitherto claimed 32.5 million lives globally, is expected to be quiet and simple in Pakistan.
The middle class lacks affordability. The free-spending elite are targeted for dissuasion by the reintroduced limitations on avenues of socialisation in the wake of regional resurgence of Covid-19.
Factors such as the curtailment of shopping time, fear, curbs on socialisation, uncertainty, falling family incomes and inflation have converged to further scale down the volume of Eid business this year by a projected 20 per cent to Rs448 billion from Rs560bn in 2020. Online shopping has picked up pace but the 25pc spike is on a relatively narrow base in the country.
House brands are gaining popularity in a thoroughly complex, fragmented and unorganised retail universe of Pakistan as stores expand their merchandising mix. Unmarked packs occupy shelves next to recognised labels in many segments of consumer products in big department stores and small shops.
Market watchers noted that the house brands’ share is still a small fraction of the market pie but has consistently been growing. Almost all big department stores Imtiaz, Fateh, Naheed, Utility Stores etc. are capitalising on the loyalty of their expanding customer base. Many small neighbourhood kiryana stores that used to deal in loose products have also started sorting, grading and packaging daily kitchen items for a premium.
Retail sector adopting technology
Without automation, it will be increasingly difficult for businesses to meet customer expectations. PHOTO: FILE
LAHORE:
Pakistan’s retail sector is on its way to induct new technology in daily operations in a bid to modernise the conventional back-end operations and processes in the manufacturing, warehousing and distribution value chains.
According to retailers, the need to upgrade the system by adopting cutting-edge technology is the only way they can grab a larger slice of the rapidly growing e-commerce ecosystem.
As e-commerce transactions increased manifold during the lockdown, many retailers realised the operational deficiencies present in their e-commerce platforms.