{"id":7679,"date":"2020-03-06T16:33:38","date_gmt":"2020-03-06T11:03:38","guid":{"rendered":"https:\/\/www.vue.ai\/blog\/?p=7679"},"modified":"2023-10-19T16:27:58","modified_gmt":"2023-10-19T10:57:58","slug":"coronavirus-retail-impact","status":"publish","type":"post","link":"https:\/\/www.vue.ai\/blog\/retail-trends\/coronavirus-retail-impact\/","title":{"rendered":"Three Ways Coronavirus Is Impacting Retail"},"content":{"rendered":"<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p><span style=\"font-weight: 400\">As the <strong>Coronavirus<\/strong> (COVID-19) continues to spread rapidly across the globe with 98,000 reported cases and counting, the global retail industry is trying to deal with the uncertainty of its intensifying impact. How exactly is the <strong>Coronavirus<\/strong> disrupting brands and retail functions across the globe?<\/span><\/p>\n<h3><b>1. Cancelled Fashion Events\u2014<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Versace has postponed its Cruise 2021 show meant to be showcased in May this year in the US and influential fashion labels such as Giorgio Armani, Gucci, Chanel, and Prada, have hit the pause button as a precaution of the <strong>Coronavirus<\/strong>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the Milan Fashion Week that wrapped up in February, the Giorgio Armani Women\u2019s Fall Winter 2020-21 fashion show was filmed behind closed doors as a preventive measure.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/shoptalk.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">The world&#8217;s biggest retail event<b>\u2014<\/b>Shoptalk 2020\u2014scheduled to happen on March 22, has been postponed to the end of the year.<\/a><\/p>\n<figure id=\"attachment_7686\" aria-describedby=\"caption-attachment-7686\" style=\"width: 350px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-7686 size-full\" src=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/03\/Coronavirus-impacts-retail.png\" alt=\"Coronavirus: Visitors at Milan Fashion Week in February\" width=\"350\" height=\"400\" srcset=\"https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/03\/Coronavirus-impacts-retail.png 350w, https:\/\/www.vue.ai\/blog\/wp-content\/uploads\/2020\/03\/Coronavirus-impacts-retail-263x300.png 263w\" sizes=\"(max-width: 350px) 100vw, 350px\" \/><figcaption id=\"caption-attachment-7686\" class=\"wp-caption-text\">Coronavirus: Visitors at Milan Fashion Week in February<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The fear was also palpable at the Paris Fashion Week, where the most noticeable front row accessory <\/span><a href=\"https:\/\/www.thecut.com\/2020\/02\/paris-fashion-week-coronavirus.html\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">was the mask <\/span><\/a><span style=\"font-weight: 400\">and the quintessential Parisian air-kiss was replaced by the upper-arm squeeze. LVMH also cancelled its coveted cocktail reception<\/span>\u00a0that celebrates young designers.<\/p>\n<p><span style=\"font-weight: 400\">Tokyo, Seoul, Beijing and Shanghai fashion weeks, which were originally scheduled to take place in March have been either cancelled or postponed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Designers of the cancelled Tokyo Fashion Week will present their collection online. Armani also live-streamed the show on <\/span><span style=\"font-weight: 400\">its Instagram account<\/span><span style=\"font-weight: 400\">.<\/span><\/p>\n<h3><b>2. Coronavirus Disrupting Supply Chains<\/b><b>\u2014<\/b><\/h3>\n<p>Government travel restrictions laid to help prevent the spread of the <strong>Coronavirus<\/strong> has severely impacted the retail supply chain.<\/p>\n<p><span style=\"font-weight: 400\">China serves as one of the biggest manufacturing hubs for many international fashion brands<b>\u2014<\/b>from H&amp;M to Tory Burch. Sellers listed on e-commerce marketplaces like Amazon are also having trouble replenishing inventory because China is their main source of supply. As the outbreak has affected the movement of people and goods due to lockdowns, supply chains are running dry.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">HBR <\/span><a href=\"https:\/\/hbr.org\/2020\/02\/how-coronavirus-could-impact-the-global-supply-chain-by-mid-march\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">predicts<\/span><\/a><span style=\"font-weight: 400\"> that \u201cthe peak of the impact of the <strong>Coronavirus<\/strong> on global supply chains will occur in mid-March\u201d. Stuck between \u2018prevention is better than cure\u2019 and \u2018keep moving forward\u2019, the retail industry has an unexpected challenge at hand.\u00a0<\/span><\/p>\n<h3><b>3. Created A Surge In Online Shopping<\/b><b>\u2014<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Demand for online grocery and food delivery has\u00a0<\/span><a href=\"https:\/\/www.cnbc.com\/2020\/02\/28\/coronavirus-singapore-online-shopping-and-delivery.html\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">skyrocketed<\/span><\/a><span style=\"font-weight: 400\"> in lieu of the <strong>Coronavirus<\/strong><\/span><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Guardian <\/span><a href=\"https:\/\/www.theguardian.com\/business\/2020\/mar\/04\/uk-retailers-hit-by-supply-disruption-amid-coronavirus-concerns\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">reported<\/span><\/a><span style=\"font-weight: 400\">\u00a049% of buyers would consider shopping online exclusively if the <strong>Coronavirus<\/strong> outbreak continues to worsen and that they will avoid buying from international sellers that ship products directly from China.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While physical retail is dealing with a slowdown, digital is attracting massive traffic. With people worrying about human contact and retailers globally forced to close down their shutters, consumers have ditched brick-and-mortar stores. It appears that online retailers and services providers are most likely to emerge as winners in this bleak situation.<\/span><\/p>\n<p><strong>Read more related articles:<\/strong><\/p>\n<div><a href=\"https:\/\/www.vue.ai\/blog\/podcast\/the-vue-podcast-leaders-in-retail-kaleigh-moore\/\" target=\"_blank\" rel=\"noopener noreferrer\">The Vue Podcast: Leaders in Retail | Kaleigh Moore<\/a><\/div>\n<div><a href=\"https:\/\/www.vue.ai\/blog\/retail-vue\/blur-the-line-between-retail-and-experience\/\" target=\"_blank\" rel=\"noopener noreferrer\">5 Stores That Blur The Line Between Retail and Experience<\/a><br \/>\n<a href=\"https:\/\/www.vue.ai\/blog\/intelligent-retail-automation\/benefits-of-ai-in-retail-for-2021\/\">7 use cases of Artificial Intelligence (AI) in Retail 2020<\/a><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> As the Coronavirus (COVID-19) continues to spread rapidly across the globe with 98,000 reported cases and counting, the global retail industry is trying to deal with the uncertainty of its intensifying impact. How exactly is the Coronavirus disrupting brands and retail functions across the globe? 1. Cancelled Fashion Events\u2014 Versace has postponed its Cruise 2021  &#8230;<\/p>\n","protected":false},"author":23,"featured_media":7685,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1523,1161],"tags":[568,570,571,562,569,563,169,566,565,195,573,567,564,572],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coronavirus: How Is It Impacting Retail? | Vue.ai Blog<\/title>\n<meta name=\"description\" content=\"From cancelled fashion weeks to disrupted supply chains, the Coronavirus is severely disrupting brands and retail functions across the globe.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vue.ai\/blog\/retail-trends\/coronavirus-retail-impact\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coronavirus: How Is It Impacting Retail? 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