In a matter of weeks, the Coronavirus has taken an unimaginable toll on life in general and as a concequence, the retail environment. The government is scrambling to save as amnay businesses as possible however it’s an enourmous task that will be difficult to contain.
The lock down and social distancing measures are forcing businesses to shut down or have severly reduced customer numbers. This is causing havoc for the retail industry which relies on foot traffic to survive. It has now come down to the survival of the fittest in an already tough retail tradining conditions.
Although Australia has not gone into full lockdown, the existing measures have already scared people into staying home and not venturing out to shops for discresionary spending.
Already required to close down are coffee shops, restaurants, gyms and hotels. Many stores are trying to adapt to the situation by doing what is within their means to continue operating as a business however every day that passes feels like a retail apocalypse. Some businesses such as restaurants have been offering takeaway as a means to stay alive and other places such as clothing stores have closed their retail front and are now operating online only. One store that has been doing this well is City Beach who have strengthened their online deals and offering a City Beach discount code as an incentive.