At the start of the 2020 holiday shopping season, stores are boarded up. Riots threaten. Covid is still on the mind.
How does a retailer prepare?
Many retailers aren't even sure how much staff to hire. After all, staffing is usually based, in part, on history. But history doesn't apply to 2020.
Many stores have closed. U.S. retailers have announced more than 8,000 store closures this year, according to Coresight Research. That is fewer than last year with nearly 9,000 closures.
Store traffic and sales are down at least 30 percent not only from Covid, but also because of online shopping.
According to Price Waterhouse Coopers, 61 percent plan to do the majority of holiday shopping online. Last year the number was 54 percent. This year, 54 percent of shoppers plan to ship gifts directly to recipients, according to Accenture.
For big box retailers, the question is whether they should staff up for order fulfillment or put people on the registers.
In most cases, specialty retailers have had to become fulfillment experts. They have to expect less browsing in their stores on the ground and more uncertainty in acquiring the products that can sell.
