But New Year's Eve Is Already In Doubt
Posted: Wed Dec 18, 2024 5:11 am
It's Only October, !
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
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