Navigating the Coronavirus at Retail
From Path to Purchase IQ sister brand RIS News (March 9) ...
As 45,081 patients are currently infected with the new coronavirus (COVID-19) globally at time of press, the retailer industry is facing stock-outs and supply chain issues, store and corporate campus closings for cleanings, event cancellations, and more.
A survey of the CEOs and business executives on the Fast Company Impact Council reveals 40% say their production lines are getting makeovers, with most focusing on diverse options and avoiding bottlenecks, and nearly all have had employees cancel work trips.
"For retailers, the coronavirus is a stark reminder that global supply chains can be disrupted quickly and with dramatic effect," Keith Jelinek, managing director and co-leader of Berkeley Research Group’s retail and consumer practice, said in a press release. "While the primary concern is the public's health, the long-term implications are significant for retailers of all sizes.”
RIS examined how a few retailers are specifically responding to coronavirus in the past weeks. For more on the following topics, visit risnews.com.
- Quantity limits to avoid stock outs
- Contactless delievery
- Less in-store contact
- Offering PTO for store employees