The Sri Lanka Retailers’ Association (SLRA) has issued a clarion call for support towards the industry and for a consultative approach when taking national lockdown decisions - especially at short notice, as the sector has witnessed mounting multi-million-rupee losses overnight due to ad-hoc measures.
SLRA is a dominant grouping in Sri Lanka’s Organised Retail Sector (ORS) which plays a significant role as a collective voice within the Sri Lankan market, SMEs and employment provision.
During a virtual webinar organised by the Sri Lanka Retailers’ Association last week, representatives of SLRA stated that the ORS is not a mere sub sector but an entire ecosystem of its own in the country, spreading out to multiple streams of sub economic strata, thus impacting on the very foundations of the country’s socio-economic makeup.
Founder President of SLRA, Hussain Sadique said, “Annually ORS invests multi-billion-rupees on new infrastructure and pays significant property rental fees for premium high-street retail space that become a major revenue of the Sri Lankan real estate business. Therefore, this is the time that the support of the government to ORS is to be channeled. By investing to preserve this sector now, far worse social consequences would be prevented later on. “We are collectively calling for support measures that will enable the ORS to weather the worst of the crisis and be in a position to make a meaningful contribution towards economic recovery. The lockdowns implemented without consulting ORS has a very negative impact on it. No other country closes retail systems and supermarkets during a lockdown but implement them along with controls such as self-distancing.
“Due to non-consulted lockdown announcements, perishable stocks in ORS are destroyed overnight with multi-million-rupee losses affecting the suppliers while retailers’ staff retention and turnover too has become very problematic. Demand in retail sub sectors such as ‘consumer durables’ has increased since more consumers are now staying at or working from home and lack of consultation with ORS in lockdowns hampers deliveries too. Therefore, keeping consumer durables outlets open is vital for the customers as well. All these would operate much better if there are wider consultations with ORS,” he said.