Monday, April 13, 2020

Retail Discretionary Spending Could Plummet as Much as 50%

Retail Info Systems
Significant business interruptions brought on by the coronavirus is upending U.S. retail discretionary spending, which is projected to decline by 40%- 50% in the first half of 2020.

This prediction comes from Fitch Ratings, which also expects a slow rate of improvement through the summer from a current 80%-90% decline in sales, and only if stores start to open mid-May or early June. Sales decline is expected to continue into 2021 and to dip 8%-10% from 2019 levels. . . . more