In today’s InternetRetailing bulletin we report as retailers including WH Smith and Watch of Switzerland showing how shoppers have switched online to buy during the coronavirus pandemic.
Swiss watches have seen online demand grow rapidly at a time when the caged buyer couldn’t go to his showroom to buy luxury watches – with several brands now available through his website for the first time. That helped him report sales growth in the latest full year – in the context of locking only affecting the last six weeks of the year. Now began to reopen several stores in the US
WH Smith, meanwhile, have seen online sales of books and other products grow rapidly, while it can also keep some of the highway shops and hospitals open. It seems unlikely that the sale will approach compensation for the current closure of the more profitable travel business, but retailers are now focused on the gradual reopening of their stores.
Boohoo saw an opportunity in the midst of the current and that crisis raised nearly £ 200 million to help make a profit from that opportunity. A number of retailers have entered into administration since the lockdown began and Boohoo will hope to make the most of the event.
And we report as retailers including Marks & Spencer are turning to big discounts to clean inventory when many stores have closed due to locking and clothing sales have fallen.
In today’s guest commentary Emile Naus of BearingPoint consider how retailers can adjust their store strategy to the way their customers now buy. Finally, we report as uncertainty arises again on unresolved UK / EU trade agreements.
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