Coronavirus' Surprising Local Retail Spike
No doubt about it, there is no other event in recent history that has impacted our world in such a huge way as COVID-19, the newest Coronavirus.
It has shut down restaurants, theaters, and furniture shops, while the hospitality, tourism, and airline industries have taken some of the biggest hits. But there is one area of Retail business that seems to be doing well amidst all the chaos: local retail.
The small “mom and pop” shops who, thanks to e-commerce giants like Amazon and AliExpress, had been struggling in recent years, are now experiencing a throng of new customers.
The very thing that was killing them is now helping them thrive.
Mom and Pop Shops Get a Comeback
With Chinese export at an all-time low (ahem, non-existent at present), lovers of online shopping can no longer buy online as simply as they used to just a few months ago. Instead, these consumers have begun flocking to local boutiques and small shops in their neighborhoods.
After all, it’s a lot faster to buy clothing or cleaning supplies near your home or office than to find out that an e-commerce site is backlogged with orders, temporarily closed, or out of business.
Times are changing and retail shoppers are adapting – and fast.
Get There Early and Get There Fast
As Coronavirus continues to spread, local governments are implementing new measures to contain it. New Jersey, for example, is considering a state-wide curfew at 10:00pm, while cities within the state have already begun their own.
For local retailers, this means they can expect to see consumers increasing their shopping habits earlier in the day and with greater frequency.
As COVID-19 continues to threaten public health and the global economy, we wish you health, happiness, and prosperity.