Four ways hard-hit retailers can overcome the coronavirus crisis

From handbags to hand sanitisers, the coronavirus impact on retail is challenging.
Why it matters

This 'black swan event' is costing more than 1 trillion yuan (US$144 billion) in losses in the restaurant, tourism and movie industries since the outbreak emerged this year on 23 JanHome quarantines and work-from-home policies have resulted in sharp declines in foot traffic in shopping malls, but not all is lost.

Takeaways

  • A few choice recommendations for retailers to weather through the crisis are to go beyond the product, make retail therapy real, evolve your business model, and go omnichannel now.

  • Shoppers who are more tech-savvy have turned to e-commerce platforms, WeChat and O2O delivery. ...

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