The Pandemic Fall of Retail Stores: Evidence from North America


Authors : Marie Antionette M. Lopez

Volume/Issue : Volume 6 - 2021, Issue 4 - April

Google Scholar : http://bitly.ws/9nMw

Scribd : https://bit.ly/3afdzqo

For the past two decades, stylish but affordable products have appealed to consumers, catapulting retailers to be self-made billionaires. With this trend, the market became saturated because of competition and repetitive fashion, resulting in companies, big and small, to file for bankruptcy. The nail in the coffin with these failing household brands is the ongoing Novel Coronavirus (COVID-19) pandemic, which resulted in lesser foot traffic of physical stores, due to travel restrictions and safety measures. To survive and thrive in the ever-changing climate of the retail industry, retailers should have a thorough, wellplanned retail management strategy, incorporating digital and physical customer experience that creates a lasting value. One effective strategy of keeping the boat afloat in the industry is for larger enterprises to acquire companies filing for Chapter 11 bankruptcy protection. In this matter, a new management with more effective plans and practices in handling the brand will likely sustain its sales even during catastrophic scenarios. The purpose of the study is to determine the action plans and strategies to help Company Y survive this retail apocalypse and to maintain its household name in North America.

Keywords : Retail, Retail Stores, Brick and Mortar, Bankruptcy, E-Commerce, Online Shopping, COVID-19.

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