Victoria is leading the country on mandated business closures. While the state government is yet to issue a specific list, here is what The herald Sun has published:
Given the objective of the shutdown, to reduce contact, businesses selling daily necessities and where people are likely to move through and purchase are preferences.
I urge newsagents to look at the post yesterday showing one way to mark our appropriate distancing on the shop floor.
Not Myers it seems. All stores close as of tomorrow with staff unpaid. Not covid19 to blame, predicted for some time.
This is the challenge for politicians. Saving the right businesses, not the basket cases.
Too early to call Myer had started a turn around and with focus on Gross Profit NOT discounted sales.
there wereare ups and downs with this type of retailing however the balance was working.. Virus Day.
One doesn’t need to be a visionary to see that the COVID-19 reaction by all Governments World Wide is telling Retail B&M to quit. Loskdown means -stay at home -stay away. plus the Govt. says the same re social distancing which is by nature anti-retail.
Myer had no choice, it’s past bad record was in recovery stage however like DJ’s their debt is unsustainable in these COVID- 19 times much the same with the smaller retailers who are mostly on the edge most of the time for leveraging has been the game to make it for a long time over many years. This disease and its handlind says it’s over.
I suspect that with a prolonged lockdown people will be craving for social interaction and bricks and mortar retail both of which we have taken for granted for so long. Don’t write off retail yet. When this storm is finally over stores like Myer may bounce back stronger than ever much to the detriment of online trading.
Certainly hope so Steve, I think most of us would like to see that sort of recovery for shopfronts.
Sure would I endorse both comments. The main problem is has been communication from Top down to the community. It is a sorting out period however first impressions unfortunately often last a long time even if they have been corrected. It’s importatnt that change to lease arrangements etc are made giving the retailer some flexibility for the future. The future as you both state could well better and brighter it needs preparation with retail knowledge gained from this dreadful experience.
here on-line plays apart and what part -how to get the best out of it. Are these slaes part of the Landlords turnover of the stores monthly sales request?
These plus many more need to be thought through now whilst we are experiencing them.