Retail Stores and Online Stores Hurting Due to Coronavirus

The Coronavirus spread to the United States in January of 2020. Cases have occurred in all 50 states. As of April 24, 2020, the U.S. has the most confirmed cases and death cases. New York has the most confirmed cases, which is 263,460 and 16,162 deaths. The possibility of containment should help the outbreak end. However, with how widely the virus has become, it's doubtful that the outbreak will be contained in a few locations. The virus can spread quickly from person to person, so this outbreak is going to take time to end, which affects retail stores drastically.

Due to the Coronavirus, retail stores have had to shut down across the US. While this may not affect large retail stores like Kohl's, TJMaxx, Hobby Lobby, etc., this will hurt smaller retail stores already struggling to keep their lights on. Retail store closures this year are now on pace to be “double what we saw last year,” which was a record year, said Deborah Weinswig, CEO and founder of retail advisory and research firm Coresight Research. “I think that is already in motion. ... If [COVID-19] stays longer, it will be greater.” For example, mall merchants are going to hurt through this. Many merchants rely on their business to pay rent, bills, food, and other essentials. The Coronavirus is going to be the death of many companies.

Along with retail stores, even online stores like Amazon are hurting. Due to the outbreak in the world, the supply chain is being disrupted left and right. Sellers on Amazon's marketplace are reportedly struggling to bring goods into the country. With retail stores shutting down, you can’t forget about factories shutting down as well. Factories produce more goods then you may think; thus, it is taking more time to get products made for all online sites. There is such a level of uncertainty for business in these next coming months the public needs to know how to support them during this tough time.

While all businesses need help and support, however, local businesses need it most. First, buy gift cards from your favorite store or boutique. One way you may be able to get hold of a gift card to use in the future is at a local grocery store. Stores like Walmart, Kroger, and Giant eagle have a wide variety of gift cards. Second, if the business or store has an online website, you can shop online. Although it may take longer than expected to receive your order, you are still supporting your local businesses. Lastly, consider a donation. While many have lost their jobs as well due to the Coronavirus, consider a donation. Rather that be writing a check or cooking for employees, any support will help local businesses get through this.

https://www.cnbc.com/2020/03/16/retail-store-closures-in-the-us-could-explode-because-of-coronavirus.html

https://www.cnbc.com/2020/02/29/amazon-sellers-scramble-to-keep-products-in-stock-amid-coronavirus.html