CHICAGO — Retailers are bracing themselves.
Around 47 percent said they expect some downside revenue implications as a result of the WHO declared pandemic known as the coronavirus, according to a survey by Digital Commerce 360 released today.
Another 80 percent said they believe the coronavirus will have at least some impact on consumer confidence, while 30 percent suspect that the coronavirus will cause their ecommerce business to be somewhat up and another 32 percent expect their online business to be somewhat down
In the Digital Commerce 360 exclusive article, “Taking the pulse: Retailers and the coronavirus,” senior consumer insights analyst Lauren Freedman details the worries and expectations of some 304 retailers concerning their business and the coronavirus.
“Much of the challenges retailers face in our interconnected world is supply chain-related,” says Freedman, in a statement. “When asked ‘which of the following actions are you taking as a result of the coronavirus,’ supply chain communication (48 percent), contingency planning (34 percent) and hopes to minimize disruptions (32 percent) top the list of retailer actions.”
Only 36 percent of retailers are taking a “wait-and-see” approach to the level of action they are taking relative to COVID-19, while the rest are being proactive, and 44 percent expect production delays as the coronavirus progresses