Tuesday, April 7, 2020

Customer Growth Partners analyzes impact of COVID-19 on retail sectors

Chain Store Age
Since March 1, the entire retail sector has undergone a huge sea change, with several major sectors seeing severe declines in business, even before virtually all specialty apparel and department stores closed the week of March 15, along with many other specialty stores. The apparel & accessories and department stores have been most challenged, across almost all formats and all price-points.

Meanwhile, a few sectors actually enjoyed a modest increase in trade over the year-earlier period (March 1-31)—notably the big-box discounters, smaller discounters and essential hardlines retailers that have not closed, as well as food and drug stores. . . . more