THE IMPACT OF COVID-19 ON RETAIL
The following data takes a look at how the Coronavirus pandemic has impacted the retail industry. Unlike some other industries in this report, the retail industry had to close the doors to a large majority of their locations. As e-commerce sales are flourishing, rising 49% in April, many brick-and-mortar retailers had to quickly adjust their omnichannel strategy in order to keep sales coming in. Here’s a look at reputation’s role on the retail industry during the Coronavirus pandemic.
The retail industry experienced the largest decrease in foot traffic from March to April, as represented by a 36.12% drop in driving direction clicks. On March 13th, the World Health Organization officially declared the COVID-19 outbreak a pandemic. It was during this time that many consumers started panic-buying and stockpiling items like toilet paper, water, hand sanitizer, cleaning supplies, and food. According to our data, this led to a stark increase in phone calls to businesses that same week as many consumers called retailers to confirm items were in stock before visiting.
In the month of May, consumers started to return to retail stores as shown by a 42.8% increase in driving directions. Although both phone calls and website visits dipped slightly in May, they’re still higher than average. This suggests consumers are still nervous about visiting businesses in-person.