In times of crisis, we tend to look to the past to see if there are any lessons we can apply to the current situation. So, how have we recovered from significant falls in the recent past, and what could this mean for the coming months?
Coronavirus is continuing to make its impact felt across the United States. Yet, even with new peaks in cases, there is a strong hope that with effective social distancing in place, the virus’s impact could soon begin to dissipate.
The United States has become a new epicenter of the coronavirus pandemic, and New York is considered one of the biggest hot spots, as confirmed cases continue to grow. It’s obvious that the spread of the virus is impacting the entire country and overall economy, but it’s even more apparent that businesses are taking a much more significant hit in areas where the virus has hit the hardest. So, we dove into New York to see just how severe the damage has been thus far.
Pharmacies have been deemed “essential” by the government and have been allowed to remain open during the pandemic. But, many pharmacies are more than just an alternative place to stockpile goods, with a focus on necessary items like medications. They’re expecting to serve as additional testing stations for COVID-19.
There is a downside to stocking up for the long haul. Once you have all the things you need, there is little need for more visits. While some expected that the thrill of being able to get out could overcome a lowering demand for actual items, this may not be the case after all.
The supermarket industry is one of the few continuously bringing in traffic as the coronavirus pandemic unfolds. Analyzing the second week of March, grocers saw significant peaks, with Friday the 13th marking one of the highest traffic days in years.
As countries around the world continue to enforce travel restrictions and as cities in the US continue to shut down, there are certain industries that will be more greatly affected than others. So, we dove into the apparel industry, hotels and airports to see how these sectors have been affected so far from the virus.
With an inevitable shutdown looming, what has the coronavirus spread already meant for shopping malls? We analyzed 11 of the top malls around the country to see just how much they’ve been affected by the virus thus far.
It is one thing to look at the impact of coronavirus on the wider U.S. economy, and another thing entirely to dive into areas that have been more directly affected. Severe impacts on a local level can be mitigated by wider strength when aggregating all locations of a chain across the country.
The coronavirus is having a huge impact on the wider retail economy, and it is likely that this effect will only grow in magnitude as CDC recommendations become stricter. However, there are sectors that are still performing well amidst the pandemic and there are critical takeaways. And these lessons don’t just apply in the face of a once-in-a-century virus, but also during more regular disruptions like inclement weather, economic downturns and more.
