{"id":271,"date":"2020-04-02T15:57:40","date_gmt":"2020-04-02T19:57:40","guid":{"rendered":"https:\/\/styledemocracy.com\/business\/?p=271"},"modified":"2020-04-19T23:23:04","modified_gmt":"2020-04-20T03:23:04","slug":"what-covid-19-might-mean-for-the-future-of-retail","status":"publish","type":"post","link":"https:\/\/styledemocracy.com\/business\/what-covid-19-might-mean-for-the-future-of-retail\/","title":{"rendered":"What COVID-19 Might Mean For The Future Of Retail"},"content":{"rendered":"\n<p>Instead of gearing up for March Break shopping, mall staple stores Abercrombie and Fitch, Nike, Apple Store, Urban Outfitters, and Lush Cosmetics have all temporarily closed up shop in response to the COVID-19 (aka Coronavirus) pandemic. <\/p>\n\n\n\n<h3>Despite their bright and welcoming spring windows, their doors remained locked over the weekend, with letters informing would-be shoppers of their hiatus. <\/h3>\n\n\n\n<p>Lululemon and Aritzia announced yesterday they too would follow suit. Lululemon locations will remain closed until at least March 27, but will continue to pay employees for their hours during this time. Aritzia reps said stores would be closed until further notice, and that all online profits from sales during the shutdown will benefit the brand\u2019s &#8220;Aritzia Community\u2122 Relief Fund.&#8221; <\/p>\n\n\n\n<figure class=\"wp-block-embed-instagram wp-block-embed is-type-rich is-provider-instagram\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"instagram-media\"  data-instgrm-permalink=\"https:\/\/www.instagram.com\/p\/B9xvInYgS5V\/?utm_source=ig_embed&amp;utm_campaign=loading\" data-instgrm-version=\"12\" style=\" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);\"><div style=\"padding:16px;\"> <a href=\"https:\/\/www.instagram.com\/p\/B9xvInYgS5V\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;\" target=\"_blank\"> <div style=\" display: flex; flex-direction: row; align-items: center;\"> <div style=\"background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;\"><\/div> <div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center;\"> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;\"><\/div> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;\"><\/div><\/div><\/div><div style=\"padding: 19% 0;\"><\/div> <div style=\"display:block; height:50px; margin:0 auto 12px; width:50px;\"><svg width=\"50px\" height=\"50px\" viewBox=\"0 0 60 60\" version=\"1.1\" xmlns=\"https:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"https:\/\/www.w3.org\/1999\/xlink\"><g stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\"><g transform=\"translate(-511.000000, -20.000000)\" fill=\"#000000\"><g><path d=\"M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631\"><\/path><\/g><\/g><\/g><\/svg><\/div><div style=\"padding-top: 8px;\"> <div style=\" color:#3897f0; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;\"> View this post on Instagram<\/div><\/div><div style=\"padding: 12.5% 0;\"><\/div> <div style=\"display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;\"><div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);\"><\/div> <div style=\"background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;\"><\/div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);\"><\/div><\/div><div style=\"margin-left: 8px;\"> <div style=\" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;\"><\/div> <div style=\" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)\"><\/div><\/div><div style=\"margin-left: auto;\"> <div style=\" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);\"><\/div> <div style=\" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);\"><\/div> <div style=\" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);\"><\/div><\/div><\/div><\/a> <p style=\" margin:8px 0 0 0; padding:0 4px;\"> <a href=\"https:\/\/www.instagram.com\/p\/B9xvInYgS5V\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;\" target=\"_blank\">A letter to our Community:\r We know you\u2019re being overwhelmed with news about COVID-19, and we know it\u2019s a lot right now. Here, at Aritzia, you, our loyal clients are at the heart of what we do and why we do it. We\u2019re committed to being both responsive and responsible, navigating these times with everyone\u2019s safety in mind.  We recognize that others are dealing with far more complex and impactful challenges than where we find ourselves. Our goal is to do our part for the global well-being.  HEALTH AND SAFETY\r As of Monday, March 16, we\u2019ll be closing our retail locations until further notice. Based on the information we have, we feel this is the best decision for our people, our clients, our partners, and our community as a whole.  In addition, we\u2019ll be shifting all Support Office employees to flexible working arrangements. It goes without saying, we\u2019ll take every measure to keep our environments and our people safe.  These are complicated times, things are changing quickly and we\u2019re committed to keeping you informed.  ARITZIA COMMUNITY\u2122 RELIEF FUND  Aritzia is committed to providing the financial continuity of both our internal team and the employees of our overseas partners impacted by COVID-19. ALL OF ARITZIA\u2019S PROFITS while we get through this challenging time, will go to the Aritzia Community\u2122 Relief Fund to support our people and their families.  OUR COMMITMENT TO YOU\r Should you need some normalcy, aritzia.com will continue to be there for you. We\u2019ve significantly increased precautionary measures to ensure the well-being of our Aritzia Concierge and Distribution Centres so that you, the women who love Aritzia, can continue to enjoy Everyday Luxury.  Everything we\u2019re doing is with input from people throughout the Aritzia team. As we navigate this complex and changing landscape, we\u2019re being challenged on a daily basis. We\u2019re doing our best to balance what\u2019s right for our people, our clients, our partners, and our communities.  Let\u2019s continue to take care of each other.  Your Aritzia.<\/a><\/p> <p style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;\">A post shared by <a href=\"https:\/\/www.instagram.com\/aritzia\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px;\" target=\"_blank\"> Aritzia<\/a> (@aritzia) on <time style=\" font-family:Arial,sans-serif; font-size:14px; line-height:17px;\" datetime=\"2020-03-16T02:05:57+00:00\">Mar 15, 2020 at 7:05pm PDT<\/time><\/p><\/div><\/blockquote><script async src=\"\/\/www.instagram.com\/embed.js\"><\/script>\n<\/div><\/figure>\n\n\n\n<h3>Malls like CF Eaton Centre, Sherway Gardens, and Square One have shortened their hours. <\/h3>\n\n\n\n<p>While pretty much <em>everything<\/em> on the pandemic front remains more fluid and changing (and confusing) than ever, it doesn\u2019t seem farfetched to wonder whether malls could very well take a cue from the stores they house and temporarily close up shop all together very soon.<\/p>\n\n\n\n<h3>COVID-19 is clearly leaving few industries immune to potentially devastating impacts, but for retail, the virus comes at a sensitive and challenging time for the industry. <\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1000\" height=\"750\" src=\"https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/closed.jpeg\" alt=\"\" class=\"wp-image-273\" srcset=\"https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/closed.jpeg 1000w, https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/closed-600x450.jpeg 600w, https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/closed-300x225.jpeg 300w, https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/closed-768x576.jpeg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption>Photo by <a href=\"https:\/\/unsplash.com\/@b_g\">Benedikt Geyer<\/a> on <a href=\"https:\/\/unsplash.com\/photos\/Qq_F_5kS7uo\">Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n<p>We&#8217;re already at a time when we&#8217;re seeing once-beloved brands close the doors to their liquidated stores on the regular. While industry-dominating powerhouses like Aritzia and Lululemon will most likely be just fine, others may not be. Maybe they weren\u2019t doing that great before the virus outbreak, frankly. <\/p>\n\n\n\n<p>While it may seem like we\u2019re in a middle of an apocalypse now, the aptly named \u2018retail apocalypse\u2019 has been a thing for a while, as retailers struggle to stay afloat in an era of increased competition and a surge in online shopping. Brands that rely on China \u2013 where COVID-19 originated \u2013 for production have particularly struggled as of late, as their product dwindles in stores due to Chinese virus-related restrictions in the manufacturing sector. <\/p>\n\n\n\n<h3>The supply chain for these retailers took a major hit long before the term \u201cself-isolation\u201d became a common one in the vocabulary of Canadians. <\/h3>\n\n\n\n<p>As Jim Danahy, CEO of retail consulting firm CustomerLAB<a href=\"https:\/\/www.cbc.ca\/news\/canada\/toronto\/coronavirus-business-impacts-canadian-economy-1.5468020\"> told CBC last month<\/a>, the supply chain impacts of COVID-19 will be felt harder than 2003\u2019s SARS outbreak because Chinese manufacturing has quadrupled(!) since then. Yikes.<\/p>\n\n\n\n<p>Everything from apparel brands and retailers of sports equipment, to big box North American retailers like Home Depot rely on China. In fact, Home Depot sources about<a href=\"https:\/\/www.businessinsider.com\/retailers-comment-on-coronavirus-impact-business-2020-2\"> 30 per cent<\/a> of its products from the country. Of course, if Home Depot doesn\u2019t have the supplies \u2013 and people don\u2019t have the cash \u2013 in the wake of the outbreak, home renovations are going to be put on hold, an added blow for the home-improvement industry.<\/p>\n\n\n\n<h3>Naturally, COVID-19 has also affected food retail, with Chinese restaurants and fast food spots remaining virtually empty for weeks compared to their counterparts of different types of cuisine.<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1024\" height=\"768\" src=\"https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/empty-shelves-covid-19-1024x768.jpg\" alt=\"\" class=\"wp-image-272\" srcset=\"https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/empty-shelves-covid-19-1024x768.jpg 1024w, https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/empty-shelves-covid-19-600x450.jpg 600w, https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/empty-shelves-covid-19-300x225.jpg 300w, https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/empty-shelves-covid-19-768x576.jpg 768w, https:\/\/styledemocracy.com\/business\/wp-content\/uploads\/2020\/04\/empty-shelves-covid-19.jpg 1080w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Instagram\/<a href=\"https:\/\/www.instagram.com\/p\/B9zhLmPpIKl\/\">@soapybearto<\/a><\/figcaption><\/figure>\n\n\n\n<p>Today, Tim Horton\u2019s announced that it would close the seating area in its restaurants across the country, offering only take-out, drive-thru, and delivery. The move comes after Starbucks announced it would close some of its stores and remove the chairs from seating areas in others, in an attempt to discourage coffee-drinkers from sticking around.<\/p>\n\n\n\n<h3>Especially in the midst of Italy\u2019s ongoing lockdown, the fashion world\u2019s luxury market has also taken a major blow with the closure of the country\u2019s fashion and textile industry. <\/h3>\n\n\n\n<p>Apparently, setbacks could total<a href=\"https:\/\/www.businessinsider.com\/how-italy-coronavirus-lockdown-is-impacting-luxury-industry-2020-3\"> $1 billion<\/a>. Not only is Milan home to headquarters to labels like Versace, Armani, and Prada, other high-end brands like Louis Vuitton and Stella McCartney rely on now-shuttered Italian factories for the manufacture of product. Making matters worse are the many<a href=\"https:\/\/www.wsj.com\/articles\/coronavirus-hits-heart-of-italys-famous-cheese-wine-fashion-makers-11583356058\"> cancellations of orders<\/a> of Italian textiles and products from foreign buyers around the world. Let\u2019s not forget about the cancellations of countless fashion shows in cities around the world as of late. In fact, luxury stocks were<a href=\"https:\/\/www.businessinsider.com\/luxury-stocks-lose-billions-in-value-amid-coronavirus-fears-2020-2\"> hit the hardest<\/a> by the initial outbreak.<\/p>\n\n\n\n<h3>On the other end of the spectrum, local businesses \u2013 many of who already struggle thanks to sky-high commercial rent prices or property tax \u2013 could see a major blow as well. <\/h3>\n\n\n\n<p>At press time, there has not been an official shutdown of independent retailers and restaurants by the Province, a growing number of local businesses are closing down shop voluntarily \u2013 whether out of a sense of personal responsibility, or potential shaming of running business as usual (just ask<a href=\"https:\/\/etcanada.com\/news\/609248\/lance-bass-releases-statement-after-being-slammed-by-justin-tranter-for-keeping-his-bar-open-amid-coronavirus-outbreak\/?fbclid=IwAR3PjChMOQ2cuaksGtVMT9qrpU_gWCnR2XFUSXO7usEs5xkvE05JK632wEo\"> Lance Bass<\/a> how that went for him and his restaurant Rocco&#8217;s).<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Dear LGBTQ community and Roccos WeHo, you are way smarter than this. Shut this shit down now. <a href=\"https:\/\/t.co\/08cmk590xU\">pic.twitter.com\/08cmk590xU<\/a><\/p>&mdash; Justin Tranter (@justtranter) <a href=\"https:\/\/twitter.com\/justtranter\/status\/1239347038560473089?ref_src=twsrc%5Etfw\">March 16, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Perhaps the biggest threat to retail, however, isn\u2019t the availability of product at all, but rather the lack of dollars from would-be shoppers \u2013 individuals whose bank accounts may have taken a hit from COVID-19 for one reason or another. <\/p>\n\n\n\n<p>There are more than a few headlines that warn of an impending global recession. But for the meantime, as retail outlets begin to reopen in China (including Apple), we can only hope that \u201cbusiness as usual\u201d resumes safely and successfully when the time is right.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"Instead of gearing up for March Break shopping, mall staple stores Abercrombie and Fitch, Nike, Apple Store, Urban Outfitters, and Lush Cosmetics have all temporarily closed up shop in response&#8230;","protected":false},"author":3,"featured_media":275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[4],"_links":{"self":[{"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/posts\/271"}],"collection":[{"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/comments?post=271"}],"version-history":[{"count":0,"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/posts\/271\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/media\/275"}],"wp:attachment":[{"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/media?parent=271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/categories?post=271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/styledemocracy.com\/business\/wp-json\/wp\/v2\/tags?post=271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}