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Coronavirus to have significant impact on consumer confidence


the staff of the Ridgewood blog

Ridgewood NJ, , Almost half of all retailers expect some economic downturn in their revenue as a result of the WHO declared pandemic known as the coronavirus, or COVID-19, according to a March 2020 survey by Digital Commerce 360 of 304 retailers.

In the Digital Commerce 360 exclusive article, “Taking the pulse: Retailers and the coronavirus,” senior consumer insights analyst Lauren Freedman details the worries and expectations retailers have concerning their business and the coronavirus.

Results from this survey show that:

47% of retailers expect some downside revenue implications

80% of retailers believe the coronavirus will have at least some impact on consumer confidence

30% of retailers suspect that the coronavirus will cause their ecommerce business to be somewhat up, and 32% expect their online business to be somewhat down

Only 36% of retailers are taking a “wait-and-see” approach to the level of action they are taking relative to COVID-19, while the rest are being proactive

And 44% expect production delays as the coronavirus progresses

“Much of the challenges retailers face in our interconnected world is supply chain-related,” says Freedman. “When asked ‘which of the following actions are you taking as a result of the coronavirus,’ supply chain communication (48%), contingency planning (34%) and hopes to minimize disruptions (32%) top the list of retailer actions.”

4 thoughts on “Coronavirus to have significant impact on consumer confidence

  1. Plenty of parking ahead for a large daily slot fee to pay back the notes on the ridgewood Hudson Street concrete garage😉

  2. What a waste of money. I’m not parking there.

  3. Firstly, let’s please format the content on this blog correctly (this blog is going to shit). Secondly, no shit that economic velocity will slow down…

  4. Well “ If u don’t like it change the channel.

    We all don’t need you.

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