The Fate Of Retail Industry

Every time I look into my closet or outfit photos for that matter, my head starts spinning with the thought of ‘ what the fate of retail industry is going to be post this apocalypse called COVID-19 and how it’s going to hit the blogging industry?” Most of the times I feel dazed and want to sleep this nightmare off but then I pull myself together to face the reality that the adverse is happening and we all are going to into another “great depression.” It is no longer a recession, cuz there is no slowing down of the economy, instead it has come to a dead halt. Everything has stopped and the aftermath of the pandemic is surfacing in every sector.

First quarter results are already in and nothing looks promising. Popular household brands like Macy’s, Neiman Marcus, JC Penney, Victoria secret to name a few are on the brink of bankruptcy. Some retailers have furloughed employees, some have already fired a massive number of employees and others just quietly exited the retail scene. We were driving down Georgetown DC, one of the hotspots of DC that was supposedly recession-proof, this past weekend and it was heartbreaking to see my favorite retailer spaces already empty and boarded. While we all are hunkered indoors, trying to deal with our own personal agendas, our economy is plummeting and at a very fast rate.

Consumer spending is at an all time low as spenders foresee the economic distress this virus is causing us and will continue to cause for the next couple quarters. The stimulus check might have been a temporary relief but a long-term solution needs to be put in place. There is not much that can be done to bail out all the retail stores, which means some will become history soon- heartbroken, and big retailer chains will be the only free standing stores.

Looking at the business and in-store operations modal stores like Costco, Walmart, Target implemented post the virus outbreak, it is quite certain that their modal will be the new norm. Payments will become contactless, buy online pickup in store will become the new trend and checkout-free retail will be the new preferred norm ( think sneeze-guards at the cashiers).

The impact of this is starting to show on all sectors including the blogging community. The marketing budgets of the retailers have been curtailed, there are not many campaign opportunities for bloggers and the chances of one getting selected to a campaign has become slim as the selection process has become more stringent owing to these budget cuts. The only industry that is thriving is the food and household supplies. So, if you happen to be a lifestyle blogger, there is good news- there are more collaboration opportunities for you now. So keep doing what you are doing, keep creating content, keep engaging and don’t stop applying to campaigns.

PS: Don’t mean to sound cheesy, but the sales that the retailers are offering is worth taking a peek.

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