45% of UK retailers have already witnessed a negative impact on sales because of Coronavirus

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 06, 2020, 12:14 PM UTC

A third of retailers are seeing “continuity of supply” as their biggest concern.

This article cites a survey by Retail Economics which revealed that 24% of major retailers in the UK have reported their supply chain being disrupted due to Coronavirus. They also reported a significant impact on their business.

However, only 7% of retailers stated having the flexibility needed to switch suppliers. 45% of respondents are observing a negative impact to sales. The study also found that one in 10 UK consumers have already started stockpiling food fearing an outbreak.

Retail Economics’ Richard Lim notes that a third of retailers see “continuity of supply” as their biggest challenge. He adds that they are also concerned about the virus’ impact on consumer confidence and shopping behaviour.

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