Retail Observer

May 2020

The Retail Observer is an industry leading magazine for INDEPENDENT RETAILERS in Major Appliances, Consumer Electronics and Home Furnishings

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MAY 2020 RETAILOBSERVER.COM 33 THE IMPACTS OF COVID-19 SINCE THE CORONAVIRUS OUTBREAK SPREAD TO THE U.S. IN EARLY MARCH, NATIONWIDE MARKETING GROUP HAS BEEN SURVEYING ITS MEMBER RETAILERS TO TRACK HOW THEY ARE RESPONDING TO — AND WORKING THROUGH — THIS UNPRECEDENTED SITUATION. Retailers Report on T he year 2020 was billed as a time of tremendous opportunity and promise for the global economy. But then came the coronavirus pandemic which effectively brought the world to a halt. "Unprecedented" now feels like a severe understatement for what we've all been living through, but it is certainly accurate. As of early April, at least 90 percent of Americans have been told to stay at home, and businesses and corporations across the globe have been forced to transition their entire staffs to work from home, where possible. Meanwhile, schools are closed, restaurants are empty, nonessential businesses are shuttered, public parks and playgrounds are roped off to prevent social gatherings, and hand sanitizer is nowhere to be found. 580 respondents assort an array of durable goods, with many dealers offering multiple categories. Of participating dealers, we found that: 54% Offer Home Furnishings 62% Offer Bedding past week, dealers have seen: 8.5% Traffic decrease slightly 18.6% Traffic decrease significantly 29.3% Traffic increase slightly, a sharp rise from 15.9% two weeks ago. reporting insight into website traffic Two weeks ago, these metrics registered at 12.4% and 11.4% respectively, with the total percentage of dealers seeing a decrease in website traffic moving from 24% to 27%. in the past week, dealers have seen: 19.0% Traffic decrease slightly 67.1% Traffic decrease significantly 4.4% Traffic increase slightly, up from 3.4% two weeks ago. Two weeks ago, these metrics registered at 27.9% and 52.4% respectively, with the total percentage of dealers seeing a decrease in traffic moving from 80% to 86%. reporting insight into store traffic

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