COVID-19: The lost summer

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Editor's note: A little bit of summer’s what the whole year is about. John Mayer got that right.  For many many a business, summer is the rainmaker of seasons. The season of hope and revival, of sundresses and shorts, mangoes, gelato, beaches and hill stations, the taste of chilled beer, the long-overdue vacations and the promise of romance. During those few months between March and early July, the sun shines on everything from travel companies to beverage brands (alcoholic or otherwise) to air conditioner manufacturers. By a conservative estimate, summer or the preparation for summer makes up for at least 40% of the overall annual revenue for such companies.  The summer of 2020 is different. With the coronavirus outbreak, the past few weeks have been rough for companies that rely heavily on seasonal business. Navigating a pandemic is tough, navigating a national lockdown far tougher. With no production and barely any distribution, what usually are the top-selling months have been reduced to virtually nothing. For Amul, ice cream sales are down by 90%. For consumer durable companies, by more than 50%. For …