The coronavirus has resulted into a drastic downfall of High Street shops in the UK. Consumers’
shopping habits have been transformed which has negatively impacted those in
the retail workforce.
The ONS conducted a Business Impact of Coronavirus Survey
which revealed that as from the 23rd of March till the 5th
of April, 27 per cent of workers across 6150 businesses were furloughed and
they hope to get back to work once stores reopen. Moreover, huge retail chains
have had to file for administration. Some examples are Oasis & Warehouse, Laura Ashley, Debenhams, BrightHouse and
Cath Kidston. Sharon White, John Lewis Partnership’s chairwoman, announced that
some of its department stores may not reopen after lockdown restrictions are
lifted.
The Covid-19 pandemic has changed consumers’ buying habits
who have turned towards e-commerce to shop when physical stores were
closed. A huge number of sales have shifted to online during the lockdown and
experts are advancing that it is ‘unrealistic’ to suggest that these shoppers
would return to brick-and-mortars once the restrictions are lifted.
So what is going to happen to physical
retail? With the lockdown soon ending, firms have to find new ways to
lure customers back into shops. Learn how they can do so in the following
article.
Physical
retail has been disrupted
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