Here's how retailers are responding to the pandemic and preparing for reopening:
I expect that most retailers will tell us that some of their home furnishings merchandise, home appliances and athletic clothing sold quite well online. In contrast, fashion apparel and graduation apparel lagged way behind since schools are closed and graduations were mostly cancelled.
I am told that Macy’s and Bloomingdale’s opened their stores in Atlanta on Monday. They will open further stores next Monday in Orlando and other cities. Because of Mother’s Day and the pent-up demand, people were waiting outside the stores at the opening. However, overall business was scant according to the; the reporter counted four cars in the parking lot of Lenox Square about 4 p.m.
Specifically in Atlanta, Lenox Square had few customers but many security guards who handed out gloves and masks. The food court was “mostly deserted” with just a few eateries open and several tables marked with blue tape so that they could not be used. Phillips Mall felt like a ghost town, according to the press, with a few high-end retailers like Gucci and Tom Ford opening their doors but restricting the number of people that could go inside.
So far, the reopening is a mixed bag. Malls are open but few of the stores seemed to have opened at the same time. Many customers are scared as they view the coronavirus as the invisible enemy lurking everywhere. The northeast, is likely to not reopen until late June or July. One can only hope that, despite dire predictions, we will not have a second or third wave of the pandemic. Hopefully, we will have a medical solutions to build back much needed customer confidence.
I was the senior retail analyst at Morgan Stanley for 16 years, following a 20 year career at retailers including Macy’s, May Department Stores and Allied Stores.I was the senior retail analyst at Morgan Stanley for 16 years, following a 20 year career at retailers including Macy’s, May Department Stores and Allied Stores. Currently I head Loeb Associates Inc. a management consulting and strategic advisory firm for leading domestic and international retail companies.
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