burger menu
Defending Retail against the Coronavirus

Defending Retail against the Coronavirus

    Add to bookmarks
SUMMARY

This report focused on the impact of the Covid-19 crisis in the retail sector presents an operational checklist to help retailers elaborate their response to the coronavirus pandemic and their planning for a recovery.

Retailers can quickly develop and implement contingency plans to address the coronavirus crisis while ensuring business continuity. Companies in the retail sector should also play their role in minimizing the virus’ spread, the study highlights. 

In the wake of the Covid-19 crisis, retailers must set up a small emergency response team next to the office of the chief executive, the chief financial officer, and the chief risk officer. On the other hand, retailers' core obligation is the protection of the health and safety of their employees and patrons. Another step suggested by this document is to put store operations and online fulfillment into crisis mode. Supply is probably going to be the most important problem for retailers over the coronavirus outbreak. The necessary responses will be different depending on the product category and type of supply chain, the paper adds.

Though Covid-19 will significantly impact on the profit-and-loss statement of many retail companies, leadership teams should concentrate on cash flow over the next few weeks while ensuring that this move in emphasis is understood by senior executives. 

At the same time, retail leadership teams are aware that they have to keep an eye on their wider business goals over the crisis created the coronavirus epidemic. It is important that they also plan for the eventual recovery.

OUTLINE

Lessons from China

People's protection

Crisis mode for store operations and online fulfillment 

Optimization of supply, distribution center operations and logistics

Communication

DETAILS

Overview

Researchfinder Rating
5 out of 5 stars
Title
Defending Retail against the Coronavirus
Region
Global
Published
March 11, 2020
Publisher
Bain & Company
Author(s)
Marc-Andre Kamel, Joelle de Montgolfier
Price
FREE
Language
ENGLISH

Content

Number of Pages
12
Number of Tables
0
Number of Exhibits
3
Topics
business-and-corona
Tags
Bain & Company, china, corona, coronavirus, corporate communication, Covid-19, global, retail, supply chain, supply chain management
Author(s)
Marc-Andre Kamel, Joelle de Montgolfier
Methodology
Not available.

Similiar Reports

Corona Update Outbreak

FREE

How companies can reshape results and plan for a COVID-19 recovery

FREE

COVID-19: Global Health & Crisis Response

FREE