While it’s no surprise that middle market retailers were hard hit by fallout from the COVID-19 pandemic, proprietary RSM data underscores this vulnerability. Some 44% of U.S. retailers lost domestic revenue because of the pandemic, while nearly half experienced disruptions to U.S. operations or production, according to a special industry oversample ... READ MORE >
CARES Act expands access to loans for small and midsize businesses
The Coronavirus Aid, Relief and Economic Security (CARES) Act signed into law on Friday, March 27, 2020, provides various options for small and midsize businesses facing liquidity challenges from the COVID-19 crisis. The three options included under the act include the U.S. Small Business Administration Economic Injury Disaster Loan Assistance Program; ... READ MORE >
Amid chaos of coronavirus, food and beverage sector continues to adapt
The retail sales figures released this week painted a grim picture of consumer spending and the state of the economy amid the mounting human and economic toll of the coronavirus. But a deeper look at the data reveals some profound changes taking place that will most likely endure once the pandemic passes. While retail sales fell off the table with an 8.7% ... READ MORE >
Retailers and restaurants should consider the CARES Act
On March 27 the president signed the CARES Act into law, providing $2 trillion in aid for individuals and business throughout the United States. Great uncertainty exists within the middle market as companies scramble to determine what programs are available, whether they are eligible, and how they can take advantage of the help available to them during one ... READ MORE >
How middle market retailers can position themselves to survive coronavirus, and Amazon
Just as middle market retailers were scrambling to figure out how they would handle the fallout from the coronavirus and maintain their businesses, the industry’s behemoth, Amazon, weighed in with its own plan. Usually, these announcements carry ominous news for small and medium-size retailers. But this announcement from Amazon was different, and in fact ... READ MORE >
Coronavirus impact on the consumer products ecosystem
Supply chain In a very short period of time, the COVID-19 outbreak has had a significant impact on economies throughout the world and across all industries and sectors. The earliest stages of the U.S. consumer supply chain are heavily dependent upon China. That means the work stoppage caused by the virus had a significant impact on production of new goods, ... READ MORE >
Betting that size matters: Macy’s closures on trend in retail
The number of store closings in the retail industry is widely publicized. Many media outlets cite data published by Coresight Research, which tracks store openings and closings in the retail ecosystem. Closings reached a record high of 9,302 in 2019, and 2020 is off to an equally troubling start, as Macy’s announced 125 store closings—amounting to roughly ... READ MORE >
In the digital age, knowing the customer becomes all the more important
The most wonderful time of the year has passed, and retailers across the country are tallying sales to determine whether or not the holiday season was a boon or bust. It’s not such a clear picture. Take Target and Costco, two big box retailers trying to shift to digital commerce. Target reported 1.4% sales growth for the period from November to ... READ MORE >
How middle market retailers can compete with free delivery
As consumer shopping habits continue to evolve away from traditional brick-and-mortar stores, the speed and cost of delivery have become a critical component of a true omnichannel retail strategy. Amazon, for example, recently announced that it would offer free grocery delivery to Prime members at Whole Foods stores in certain markets. That comes on top ... READ MORE >
No holiday break for fashion and apparel
On Aug.1, President Trump announced a 10% tariff on an additional $300 billion of Chinese goods not subject to previous tariffs levied by the United States during the protracted trade war. Last Friday, the president announced that the fresh tariffs would be hiked to 15%. According to the American Apparel and Footwear Association, the most recent list ... READ MORE >