03-30-2020, 02:28 PM
Wow, Macy's was a continuing entity before this pandemic? Who knew!
I am assuming that the Covid-19 will be the final blow for the "retail apocalypse"; retailers were already in a precarious position even before the pandemic will not come back. It might leave even some of the stronger retailers in trouble. On the flip side, those who survive might see a cleared landscape on the other side. Of course the 10,000 lb gorilla (Amazon) will still be there, but I expect that there will always be a segment of the population that will prefer to shop in person.
There are a few places that have announced they were hiring: Amazon (of course), Walmart, Albertson's, Instacart... it won't make up for the job losses in the stores that are closing. The big question is whether there will be a quick rehire of laid off workers or if there will be a long recovery road. After the financial crisis, it took a long time to get back to per-recession employment levels.
BC
I am assuming that the Covid-19 will be the final blow for the "retail apocalypse"; retailers were already in a precarious position even before the pandemic will not come back. It might leave even some of the stronger retailers in trouble. On the flip side, those who survive might see a cleared landscape on the other side. Of course the 10,000 lb gorilla (Amazon) will still be there, but I expect that there will always be a segment of the population that will prefer to shop in person.
There are a few places that have announced they were hiring: Amazon (of course), Walmart, Albertson's, Instacart... it won't make up for the job losses in the stores that are closing. The big question is whether there will be a quick rehire of laid off workers or if there will be a long recovery road. After the financial crisis, it took a long time to get back to per-recession employment levels.
BC