Retail’s Christmas Is in Jeopardy
The coronavirus is jeopardizing the holidays. Unemployment stemming from store closures, some of which may prove permanent, as well as disrupted supply chains, a change in consumer psychology, and the threat of a renewed outbreak come fall, have all cast a pall over the upcoming holiday shopping season. None of the changes bode well for retailers, especially the ones who were in trouble before the pandemic.
“We’re assuming the customer is pretty slow to come back to all these stores,” said David Silverman, an analyst for Fitch… “Things might not be completely fine until there is a vaccine, and that could take a year or more.”