Category Archives: Business/Economy

Some Retailers are in Trouble — Forbes.com

The recent challenges to retail by COVID-19 may force many retailers into bankruptcy: “To say this is going to be devastating to American retailers is to put it mildly. With little to no revenues coming in for non-essential retailers through at least the end of April, other than sales from digital channels, retailers will face a day of reckoning later this year or early next.” P.S. It is critical for suppliers to work with healthy, successful retail partners. If you...

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Air Cargo Capacity Falls — SupplyChainDive.com

Global cargo space has declined as COVID-19 concerns disrupt supply chains: “Airfreight volume fell 1.9% year-over-year (YoY) in February — the 15th straight month of declining volume, according to the latest numbers from the International Air Transport Association (IATA). In seasonally adjusted terms, demand fell by 9.1% month-over-month, which IATA called “‘the largest ever monthly decline for that series?.’ February 2019 cargo volume was also relatively weak, which helps to explain the relatively small YoY decrease.” P.S. Disrupted supply chains...

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U.S. Suppliers Start Sourcing Domestic Food — Walmart.com

Many U.S. food suppliers are tapping local sources as it becomes more difficult to import food from overseas: “The majority of garlic consumed in the U.S. is imported from China, where the novel coronavirus originated. However, as the virus impacts more countries, CEO of Olam Spices Greg Estep told Food Dive that orders for U.S.-grown onion, garlic and chilies jumped 20% in March compared to last year.” P.S. Maintaining a nimble and flexible supply chain is an essential part of...

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Report: CPG Sales Could Increase 30% Between March and May — FoodDive.com

A recent study indicates that CPG sales could increase by 30% between March and May: “The forecast is based on the ‘massive shift in eating patterns’ to more at-home consumption because of quarantine measures put in place during the coronavirus pandemic, Credit Suisse said. The firm said an industry contact told them food at home likely represents 80% of spending on food today compared to 50% typically.” P.S. Fresh remains a huge opportunity for discounters, big box stores, and other...

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CARES Act and Supply Chains — SupplyChainDive

The CARES act and the funds it provides will impact retail supply chains in multiple ways: “Manufacturers are ‘hanging on as long as they possibly can and keeping their employees on the payroll,’ National Association of Manufacturers President and CEO Jay Timmons said on a media conference call Thursday. ‘That’s why we were so pleased to see many provisions in the CARES Act and incentives to maintain that employer-employee relationship.’” P.S. This is a critical time for retail. Never has...

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What Is “Essential” Retail? — RetailDive.com

Shutting down all but “essential” businesses has become a feature in many communities. It is also a topic of debate as some businesses, particularly retailers, continue to operate as “essential” even though their workers, and customers, don’t agree: “It’s unsurprising, then, that some specialty retailers and department stores have stretched that word, ‘essential,’ to include themselves — in many cases staying open over the objections of their own employees, who, as Retail Dive found in investigating the situation at supplements...

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CPG Professionals: Food Will Stay on the Shelves — SupplyChainDive.com

Industry experts believe that the grocery industry is prepared to keep store shelves stocked with the basics during the COVID-19 pandemic: “‘No industry is better positioned than a 24/7 industry,’ Geoff Freeman, president and CEO of the Consumer Brands Association, told Food Dive. ‘…We’re used to that aspect. We’re used to periods in time where there’s much more demand, whether it’s around the Super Bowl, whether it’s around March Madness, whether it’s around the holidays, you know, we’re used to...

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How COVID-19 Challenges Legacy Retailers — RetailWire.com

Many legacy retailers have been struggling over the last decade. COVID-19 has added another challenge: “Dramatically shifting consumer demands combined with the broad availability of many shopping conveniences that were once scarce — product information, product choice, distribution access and more — have laid bare the weaknesses of many once-powerful and iconic retailers. Good enough no longer is. We have to choose remarkable.” P.S. Partnering with a high-performing retailer has become more important than ever before. If you want to...

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Grocery Stores Use Tech to Improve Service, Safety — Chain Store Age

Grocers are using multiple technologies to keep shelves filled and to protect customer and employee safety during this time: “Keeping employees and shoppers safe during this uncertain time is top of mind for all grocers. As a result, supermarkets are cutting store hours to give employees time to replenish shelves; establishing shopping hours for senior citizens; deep cleaning store shelves, equipment and restrooms both during and after operating hours, and stepping up delivery and in-store pick-up options. Grocery chains are...

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Consumers Concerned About Counterfeit Goods — RetailDive.com

An increase in online shopping has also led to an increase in concern about purchasing counterfeit goods: “The report also highlighted online shoppers’ quality concerns. Per the report, 68% of U.S. consumers are worried that there might be more counterfeit or poor-quality products sold online as a result of the pandemic, but 45% of respondents said they were unaware of product counterfeiting.” P.S. Everyone needs to do their part to ensure that consumers are able to access high-quality goods while...

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