Hurricane Dorian Comes at a Cost to Retail, Back-to-School Shopping
Hurricane Dorian is shifting retail sales away from “non-need” retailers, sending consumers instead to home improvement and grocery stores. The rise in sales retailers usually see during the back-to-school season could be dampened by the inclement weather; retail as a whole is expected to lose $1.5 billion in sales.
“Home centers are going to be on the front end of that surge of sales and groceries as well. But when you start talking about department stores, specialty apparel, and basically non-need items, that business goes away,” said Paul Walsh, director of consumer weather strategy at IBM.