how will the pandemic affect the new year shopping season
Although the Turkish economy is expected to reopen in the coming months, investors should be prepared for a ‘below-expectations’ holiday shopping season. It’s a disappointing holiday. People’s concerns are, of course, largely based on unemployment.
In the best-case scenario, retailers that kazakhstan phone number library have closed their brick-and-mortar locations to slow the spread of the coronavirus will reopen in the coming months. But many chains, especially in tough, selective categories like apparel, will see sales fall 10% to 15% compared with the holiday shopping season a year ago.
As I said at the beginning, the reasons are many. Unemployment will remain high because, as companies cut costs or do not reopen, many furloughed workers will not be brought back. A decline in consumer psychology will increase the already high savings rate. And the risk of a second virus outbreak in the fall will be paramount.
Black Friday Starts Early As Holiday Shoppers Hit Stores
It’s hard to imagine such a scene this holiday season. That’s not good for retailers, as in-store purchases accounted for 80% of sales last year.
There’s also a big question mark over whether chains will have enough goods in stock for the holiday season. Virus-triggered shutdowns have upended supply chains and weakened the industry’s finances.
That doesn’t bode well for an industry that has been struggling for a long time. When the government told non-essential stores to close temporarily, it was a blow to some of the weakest parts of discretionary retail, such as department stores and clothing chains.
The Covid-19 Pandemic Will Have Effects We Will Feel All Year Long
how will the pandemic affect the new year shopping season
