Corona impact in Retail

Essentials, Medical and Food supplies, and eCommerce will have a spiked up demand. Clothing / Fashion / Toys / Luxury brands /Smartphone and non-essentials will have an impact leading to reduced sales / temporary closure of stores.

Business Impact

• Reduced Store Traffic
• Revisit on Sales Forecasts
• Temporary Closure of poorly performing stores
• Supply chain / Manufacturing Delays / Reduced Demands

Alternatives

• Omni Channel Support
• Contactless delivery
• Equip Store associates with Sufficient safety procedures
• More Sanitizing efforts for store associates/customers
• A shift for e-commerce mode
• Use offline data for online personalization
• Stock up / Align towards products in demand (Healthcare / Medical / Essentials etc)

It will take time to recover and reset/fix the entire supply chain, manufacturing, overcomes direct/indirect job loss, economic impact. Hoping it will be handled well and things will come back to normalcy soon.

7 COVID-19 crisis management tips for small businesses

1 Provide reassurance
2 Develop remote service delivery
3 Negotiate short-term relief
4 Ensure supply chain continuity
5 Provide discounts
6 Proactive hygiene practices
7 Protect employee wageshttps://t.co/xNmGIA4a7r pic.twitter.com/hYwigt50Cq

— Vala Afshar (@ValaAfshar) March 23, 2020

These Struggling Retailers May Suffer Their Final Blow From The Coronavirus Lockdown

Challenges

• Rent and other fixed costs of running
• Employee Salaries
• Cash on their balance sheet 

Be Positive!!!
Keep Thinking!!!
Practice Social Distancing!!