Hello friends i chose this topic for our project-hope community as well as for general blockchain users Is Corona Destroying Retail Business Along With Human?. As we know there are three types of shops in any market the first one is Distributors, Wholesalers and the last one is Retailers. If i say that the distributors are supplying products to wholesalers then retailers buy products from wholesalers and sell on market. It is also fact that the general public goes first to retail shop to buy any product such as electronics, grocery or cloths. Retailers (Most) are those people who starts business either taking loan from bank or taking help of relatives this is fact. Retailers earns on daily basis and from that earning they repay loan amount, expense for their family take care etc. It means they have to do anything in limitation. Please think that when two months retails shop are closed then how they can survive or how they can repay loan amount? therefore i am saying that Covid19 is not only affecting human but the small business unit too. The small business owners are also in pain without any direct infection of Covid19 because they are unable to repay loan EMI on time or also can't spends money on themselves survival.
How Covid19 affecting retail business?
Since this virus came in effects without any notice hence no one can change their existing plan to save from this.
The retail owners set a plan in starting according to their total expense and the profit they can earn ahead so if anyway they have to change plan then surely the business will move towards shutting down. It is also fact that the effect will also harm to distributors and wholesalers but since they have lots of fund hence they can restore their business after some months.
Is anyway to restore closed retail shop or which is about to close?
Yes definitely there is a way to restore that shop if owners want to change business model for example, if currently a retailer is selling electronics item then he/she should little change the business model towards people are heading much such as some grocery items or green vegetables. This is my own opinion only and changing business model depends upon you only.
Thanks for concentration!!
#staysafe