In the midst of this global crisis caused by the coronavirus (Covid-19), we wait with great expectation for the before and after of Hispanic retail, the day after this whole nightmare is taken care of and finished. Because whenever we have faced a crisis, there is an immediate impact on the retail sector.
Data from China reveals that its economy seems to be returning to normal after falls in retailing that have reached 25% during the first months of the year. They are doing so through large-scale government actions in support of consumer credit and other measures to revive their business fabric and which we should look at carefully here in the United States.
With the arrival of the Covid-19, Hispanic retail has become a vital element of extreme need for our society.
All supermarket chains, without exception, are going the extra mile to serve their respective communities, giving priority to the most vulnerable groups such as our senior citizens. They’ve implemented exclusive hours for adults, priority attention in purchases, and home deliveries. These are some of the actions that our Hispanic supermarkets are taking.
On the other hand, online sales have been overwhelmed. All the big players (i.e., Amazon and Walmart) have not been able to meet the growing demand.
Regarding the Hispanic retail data, they are on the positive side. Hispanic grocers are meeting online demand in the respective channels with great capacity.
The future of our Hispanic retail, from Day 1 Post Covid-19, is going to go hand in hand with all the measures that will be jointly coordinated between the private sector and the government.
For example, the Non-Food Retail industry will have to resort to aggressive marketing promotions in prices to increase inventory turnaround.
If the pandemic extends, we could experience a “retail apocalypse.” This would happen with non-essential or vital retail businesses. We may be seeing a future with a massive closure of shopping centers throughout the country, fashion chain stores, department stores, and electronics.
We need to be prepared to face this challenge by reinforcing our online channels and building a closer relationship with our customers.
The heroes without capes From Hispanic Retail
In our collective imagination, heroes wear capes and have superpowers that allow them to fly and have superhuman forces that make them the saviors of the planet.
Reality again surpasses fiction and we see thousands of anonymous heroes take to the streets every day to go to work in the grocery stores so that we lack nothing in the cupboards of our homes during these times of confinement and social isolation.
I want to take this opportunity to pay a sincere and strong tribute to our heroes, to all the workers in the supermarkets throughout our great nation.