This 'black swan event' is costing more than 1 trillion yuan (US$144 billion) in losses in the restaurant, tourism and movie industries since the outbreak emerged this year on 23 Jan. Home quarantines and work-from-home policies have resulted in sharp declines in foot traffic in shopping malls, but not all is lost.
Takeaways
A few choice recommendations for retailers to weather through the crisis are to go beyond the product, make retail therapy real, evolve your business model, and go omnichannel now.
Shoppers who are more tech-savvy have turned to e-commerce platforms, WeChat and O2O delivery. ...