Retailers Fear Major Revenue Hit, Troubled By Endless Economic ...
According to a study from Coupa, 83% of supply chain professionals in the US and UK expect supply chain disruptions to negatively impact revenue during the holiday season. Retailers anticipate an average revenue loss of 10%, potentially resulting in billions of dollars lost. Over half of retailers are already experiencing out-of-stocks on key holiday items. Consumers are concerned about the cost of living impacting their ability to spend, with almost a third planning to spend less on holiday groceries, travel, and gifts compared to last year. Retailers predict household goods, apparel, and electronics will be the most impacted by product shortages.
Source: Link
Frequently Asked Questions
Why are retailers fearing major revenue hits?
Retailers are fearing major revenue hits due to the impact of the COVID-19 pandemic. The closure of many businesses and the disruption of commerce in most industry sectors have significantly affected the retail industry's ability to generate revenue.
What are the economic implications of the COVID-19 pandemic?
The COVID-19 pandemic has led to various economic implications. The fears of an impending economic crisis and recession, as well as the unprecedented disruption of commerce in most industry sectors, have caused significant economic challenges worldwide.
Where can I find more information on the economic implications of the COVID-19 pandemic?
For more information on the economic implications of the COVID-19 pandemic, you can refer to the following sources:
- "The socio-economic implications of the coronavirus pandemic" - This article discusses the fears of an impending economic crisis and recession sparked by the pandemic.
- "Effects of COVID-19 on business and research" - This article explores the unprecedented disruption of commerce in most industry sectors caused by the COVID-19 outbreak.
- "Global Economic Growth Slows Amid Gloomy And More Uncertain" - This blog post by the International Monetary Fund discusses the global economic slowdown triggered by higher-than-expected inflation.
Please note that the specific concerns of retailers and their revenue hits may vary, and it might be helpful to search for more targeted sources or news articles related to the retail industry or specific regions.