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.
[2 minute read]