• For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
Facebook Twitter Instagram
Saturday, March 25
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook Twitter Instagram
WholesaleCentral.com Blog
  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
  • New Suppliers
WholesaleCentral.com Blog
Home»For Buyers»Retail News»Report Shows Timing of Reopening is Important in Determining Business Success or Failure for Retailers
Retail News

Report Shows Timing of Reopening is Important in Determining Business Success or Failure for Retailers

PublisherBy PublisherMay 26, 20203 Mins Read
Facebook Twitter Email
Share
Facebook Twitter Email

Alexander Babbage logoby Alexander Babbage

As part of an ongoing survey, a report, the Babbage Pulse, demonstrates retail recovery will depend on how different communities have responded to the seriousness of the virus and sheltering in place. Babbage Pulse was created by Alexander Babbage, a leading national research firm. Consumers have been tracked weekly since March 20 to determine changes in consumption, attitudes and trends during the pandemic.

“Now that states are starting to open up in this fragile economy, it is critical that businesses that reopen, do so at the right time,” said Alan McKeon president and CEO of Alexander Babbage. “Retailers operating in areas that are still reluctant to end their shelter-in-place should treat their businesses and customers differently than those areas where people have been more lax regarding socializing, safe distancing, wearing masks, etc.”

Alexander Babbage is a full-service location-based analytics and insights firm with more than 20 years of experience measuring and closing the gap between client market share and client market potential. The firm believes better results come from better decisions. And better decisions come from understanding customers, geographic markets and opportunities.

Geographic Location Matters

“The differences can be subtle,” McKeon explained. “If you open your store/restaurant/retail center in a market where 40 percent of consumers never leave their home, you will be less successful than in the store/restaurants/retail center where 30 percent never leave home. The two markets are probably in the same state, just exhibiting different consumer behavior. The difference between the two could mean success or failure in this economy.”

The report looked at consumers across the country. It found there are areas where residents’ attitudes are significantly different toward COVID-19 than their overall state. So, while their Governors might be opening-up or extending shelter-in-place, communities across the country were at odds with their state’s protocol.

A Difference in Political Parties

While the report shows a majority of Americans still believe that it’s too early to open up, those who are most willing to get back to shopping, dining and work were divided by party, age and race. It makes sense that those who are more worried about the virus are those who have been most impacted—older Americans, African Americans and Latinxs, as the report indicates. When the respondents were assessed by political preferences, 51 percent of Republicans were confident that people like them, who contract COVID-19, will make a full recovery. Compared to less than 32 percent of Democrats.

The majority of Republicans and Democrats agreed that improved health practices need to remain after post shelter-in-place orders; however, there were measurable differences between the two groups with Republicans less likely to think places should be constantly cleaned, social distancing should remain and they did not think employees should still be required to wear masks.

Key findings in the report included:

  • Destinations should plan their re-entry strategies around Millennials and Gen X consumers while assessing how to assure boomers of their personal safety.
  • Shelter in place restrictions are decided at the state level, but consumer behavior is determined by their beliefs. These vary widely by generation and political affiliation.
  • Destinations should look to the composition and behavior of their trade areas in making individual re-opening decisions.

For more information, visit alexanderbabbage.com. A summary of the report is available here.

COVID-19 small business
Share. Facebook Twitter Email
Previous ArticleCBD Lotions to Keep Hands Soft and Hydrated During COVID-19
Next Article How to Balance UX and Online Shopping Security During COVID-19

Related Posts

5 Essential Tax Season Preparation Tips

January 24, 2023

Technology to Prepare Your Store for the Future

January 19, 2023

How to Create a Google Business Profile

January 18, 2023
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Latest Posts

Amazon Return Pallets For Sale: How to Profit

March 20, 2023

2023 Wholesale Apparel Trends

March 14, 2023

Top Wholesale Easter Products

February 27, 2023

The Future of Sustainable Manufacturing is a Hybrid Approach

February 23, 2023

Make Money with Foreign-Trade Zones

February 22, 2023

Overstock Liquidations

January 25, 2023
how-to
Wholesale 101 for Buyers

Amazon Return Pallets For Sale: How to Profit

March 20, 202311 Mins Read

A big trend among some online sellers is buying Amazon return pallets and overstock and…

Product News

Overstock Liquidations

January 25, 20236 Mins Read

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Retail News

5 Essential Tax Season Preparation Tips

January 24, 202310 Mins Read

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Wholesale 101 for Buyers

How to Create a Google Business Profile

January 18, 20236 Mins Read

Looking for new ways to get your brand noticed? Creating a Google Business Profile can…

  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Sources
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2023. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.