It is well known that we are in uncharted territory because of the pandemic sweeping the nation, and while when doors do re-open there will no doubt be a surge of sales, will there be an on-going lasting effect?
The UK retail sector had already faced an uncertain economic future due to Brexit and changing consumer habits, but it’s no secret by now that the Covid-19 pandemic further spun the industry into a whirlwind of unprecedented uncertainty.
So far, retailers have had to contend with temporarily closing their stores in affected areas around the globe, accommodating sick or worried staff, and dealing with supply chain disruptions. The closure of their stores also means most retailers will endure a massive blow to their sales and profits for the year.
With many countries now in lockdown, it’s unlikely that such draconian measures will last infinitely – but the question is “when”. Once the Covid-19 turmoil has settled and death and infection rates come under control, when will retail return to normal? And how long will it be before the retail sector reaches its original levels of trading – if ever?
Last week in China, where lockdown measures have been relaxed, the world was greeted with images of people allowed outside after seeing infection rates slow down.
