Like throughout the world, Taiwan’s retailing sector suffered a huge blow due to the impact of COVID-19 in 2020, which resulted in a major slowdown of economic activity due to social distancing measures. In response to the crisis, the government introduced a wide range of restrictions, causing a slowdown in economic activity, especially in...
2020 has brought unprecedented challenges to the UAE retail landscape, a market highly vulnerable to the economic disruptions caused by the COVID-19 pandemic given the high proportion of GDP fuelled by retail, transport and hospitality. Dubai stands out as one of the most diversified economies of the GCC and it relies very heavily on tourism...
COVID-19 had a significant negative effect on bricks-and-mortar retailing in Hong Kong in 2020. Foot traffic was greatly reduced, as the pandemic made local consumers much less inclined to gather in groups for shopping. Meanwhile, many retailers have limited the number of consumers that are allowed in their stores at any one time in an effort...
In light of the pandemic, retailing in Latvia performed relatively well in 2020. The emergency situation came into force on 13 March when a two metre social distancing measure was introduced to observed in stores and other public places, along with restrictions on public events and social gatherings while schools were closed. In an effort...
Ecuador experienced a double whammy, as a result of COVID-19. There were significant job losses and economic uncertainty as services were curtailed due to COVID-19, but also as Ecuador’s economy is largely dependent on oil, the economy was affected by the steep drop in oil prices in 2020 due to reduced demand. Retailing in Ecuador...
The impact of COVID-19 has been less severe in Sweden compared to many other markets, with this being largely due to the government’s decision not to introduce a lockdown. Instead, the country’s strategy has to a large extent been built on voluntary quarantining and social distancing, with virtually all shops remaining open during 2020. Retailing...
Retailing experienced a contraction in 2020, for the most part due to the Coronavirus (COVID-19) global pandemic. Consumers were directed to stay at home under the Movement Control Order (MCO) that was originally expected to last for two weeks in March, but which had to be extended until 12 May. During this time, all non-grocery retailers...
After a number of years of good value growth, retailing recorded a modest overall value decline during the Coronavirus (COVID-19) pandemic in 2020. The health crisis led to soaring unemployment rates in the country, with many businesses closing and a consequent steep reduction in consumer confidence and disposable incomes. Many Russians were...
The COVID-19 pandemic has had multiple impacts on retailing in Peru. The sharp contraction of the economy as a result of the crisis has made consumers more cautious, prioritizing essential goods and limiting expenditure on non-essential products. As whole, the retailing industry saw a sharp contraction as a result of this, with government...
The government’s announcement of a lockdown from 16 March in an attempt control the spread of COVID-19 in Austria included the closure of non-essential retailers and foodservice, while essential services including grocery retailers, chemists/pharmacies, petrol stations and pet shops and superstores were permitted to remain open with social...