through monumental ups and downs; the most unexpected of changes, the details
of which I have no need to explain. However, when asked the repercussions of
this pandemic on small, artisanal retail stores like mine, the answer is
anything but simple.
Covid-19 will have repercussions on far more than just those who contract it-
Businesses are floundering, its true- and none more than those which require a
customer’s physical presence: Tourism, Travel and Brick-and-Mortar Retail being
the hardest hit.
shop for clothes or jewelry? And therein lies your dilemma- What small quasi-luxury
stores offer is not a need, it is simply a desire- one, pretty low in the large
scheme of things.
days, and the vast reaches of an ailing economy have not spared the common
populace- redundancies loom around the corner and the disposable income of the
buying public is limited.
regardless, demand for luxury goods and fashion WILL drop.
lost anyways and there are bound to be surplus stocks. As we gear up to go in
for the festive season, cash crunch will be felt by all players, hence the
attempt to offer discounted prices leading to lower and reduced margins.
will lean towards functionality and minimalism. There has been a paradigm shift
in consumer behavior where excess seems wasteful and recycling the new norm.
With increased social distancing, the need for fashion becomes far lesser.
logistical details awaits- highest standard of sanitization, septic tanks,
gloves and masks taking away the romance and therapeutic value of shopping.
retail therapy until things get safer and better. The joy of discovering that
your favorite things can be home delivered will be the way forward. There will
however, some loss in sale up to almost as much as 40%.
and blurriness of the future, and close to 2 months of no revenue, I remain
cautiously optimistic. I am relying on The Lipstick Effect, at least for the
immediate future. The vestiges of humanity will persevere through the pandemic
and I believe people will still purchase small, expensive goods as gifts to
themselves (like lipsticks!).