Impact of COVID-19 on the Indian retail industry: meta-trend analysis based on text mining Online publication date: Thu, 30-Nov-2023
by Pooja Misra; Komal Sharma
International Journal of Business and Emerging Markets (IJBEM), Vol. 16, No. 1, 2024
Abstract: COVID-19 has induced a huge economic crisis and adversely impacted the retail industry. The study critically evaluates the impact of COVID-19 on the Indian retail industry, its transition as a result of the pandemic and challenges faced by it. The study shares measures and avenues that retailers should focus on to be on par with the changes in consumer behaviour that have resulted from the pandemic. This was done through a qualitative analysis, i.e., by the text mining technique in R. The qualitative data analysis and use of analytical models like word cloud, topic modelling, latent semantic analysis (LSA) have highlighted the major impact of COVID-19 on the Indian retail sector as: changes in consumer behaviour and shopping pattern, supply-chain disruption, demand fluctuation, digital transformation of the sector and liquidity crunch faced by physical store-based retailers. The study provides a direction in theoretical, empirical and applied research to retailers, researchers and policymakers.
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