I recently created a child theme and activated it. The CSS changes that were made are now working.
However, all the custom widgets I used to have under "Main Sidebar" (from Parent) have now moved under "SmartAdapt: Category Page Sidebar" once I activated the child theme. Also, any customization done earlier were lost (Navigation Menus changed, Resize component layout is now fixed). I can manually change these settings back, however, wanted to see if this is by design or if there is a way to ensure that the child theme would carry over the customizations that were made earlier as part of the original theme.