The New Normal for the Retail Industry

in Fashion, Business

A lot of people are severely affected by the coronavirus outbreak. The retail sector, in particular, is facing an uncertain economic future. Since social distancing has become necessary, businesses that rely on their physical stores are now facing a huge problem. Supply chains are suddenly cut off and employees are recommended to stay at home in fear of contracting and spreading the virus.

Italian fashion was affected by COVID-19 as a lot of retail companies are affected by the supply chain disruption. There’s a decrease in the number of leather bags and scarves that people can buy because of the pandemic. Italy is one of the countries that is severely affected by the virus. There are hundreds of thousands of confirmed cases and more than 30,000 confirmed deaths in Italy alone.

While the government is trying its best to test people, the future is still uncertain.

Vaccines Can Help Things Go Back to Normal

While doctors are scrambling to cure patients with the virus, scientists are looking for cures and vaccines. Both are essential to making sure that COVID-19 will not affect other people. However, a vaccine is much more useful in the long run.

A vaccine can help flatten the curve even without social distancing. They can help the body’s immune system combat the virus if they ever encounter someone who carries COVID-19. It is no longer necessary to practice social distancing provided that everyone will receive the vaccine.

However, it is still uncertain at this point if things can go back to normal. It is estimated that a vaccine will not be developed until 18 months from now. With this timeframe, a lot of industries can go bankrupt or forced to lay off employees to stay afloat. This will have a huge economic impact for a lot of countries worldwide.

Even with the hopes of a vaccine being developed, it’s still uncertain if businesses can bounce back from the pandemic. The clothing industry is one of the fields that are suffering from the economic impact of the virus as they are seeing a huge decrease in demands for their products.

The New Normal

A lot of experts are now predicting that things will not return the way it was before. They are advising countries to adapt to a new normal that can help lessen the impacts of the coronavirus.

A lot of theories are being thrown around on what the new normal will be. For now, a lot of businesses have gone online to connect with their customers despite the virus. There’s a possibility that online shopping will be the new normal in the future. But with a lot of uncertainties around COVID-19, it’s still too early to tell.

If online shopping becomes the new normal, there’s a possibility that a lot of people will have no job when the threat of the pandemic ceases. However, if a vaccine is developed much earlier, there’s a chance that the new normal will not be totally alien to us. Retail shops with a physical presence can still open up, assuming that it does not take too long before the vaccine is created.

How You Can Help

As a lot of experts have reiterated numerous times, everyone has a responsibility for flattening the curve. Practice social distancing and make sure that you will not contract or spread the disease. There are already a lot of countries that have successfully flattened the curve as early as now. If people cooperate and the government manages the virus well, things will go back to normal earlier.

Image Credits: Arturo Rey

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