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Five Tips for Retailers in the Pandemic

The future appears to belong to Amazon, Walmart, and all of those other massive cookie-cutter retailers which have survived due to the coronavirus epidemic. Those stores have seen empty shelves while other retailers struggle to keep the lights on. The Journal of Commerce reported that U.S. retail sales in March fell by 6% just compared to the previous month, and retail spending is about 28% of the U.S. GDP. This is horrible news for retailers and by extension the U.S. and global economy.

But retailers now must focus on the very immediate, real threat of how to keep the lights on for another week or month. There are difficult decisions to make here, such as whether filing for government aid is the right move or how to retain cash. Here are some of the most important factors to consider for these difficult times.

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