Authors :
Marie Antionette M. Lopez
Volume/Issue :
Volume 6 - 2021, Issue 4 - April
Google Scholar :
http://bitly.ws/9nMw
Scribd :
https://bit.ly/3afdzqo
Abstract :
For the past two decades, stylish but affordable
products have appealed to consumers, catapulting
retailers to be self-made billionaires. With this trend, the
market became saturated because of competition and
repetitive fashion, resulting in companies, big and small,
to file for bankruptcy.
The nail in the coffin with these failing household
brands is the ongoing Novel Coronavirus (COVID-19)
pandemic, which resulted in lesser foot traffic of physical
stores, due to travel restrictions and safety measures.
To survive and thrive in the ever-changing climate of
the retail industry, retailers should have a thorough, wellplanned retail management strategy, incorporating digital
and physical customer experience that creates a lasting
value.
One effective strategy of keeping the boat afloat in
the industry is for larger enterprises to acquire companies
filing for Chapter 11 bankruptcy protection. In this
matter, a new management with more effective plans and
practices in handling the brand will likely sustain its sales
even during catastrophic scenarios.
The purpose of the study is to determine the action
plans and strategies to help Company Y survive this retail
apocalypse and to maintain its household name in North
America.
Keywords :
Retail, Retail Stores, Brick and Mortar, Bankruptcy, E-Commerce, Online Shopping, COVID-19.
For the past two decades, stylish but affordable
products have appealed to consumers, catapulting
retailers to be self-made billionaires. With this trend, the
market became saturated because of competition and
repetitive fashion, resulting in companies, big and small,
to file for bankruptcy.
The nail in the coffin with these failing household
brands is the ongoing Novel Coronavirus (COVID-19)
pandemic, which resulted in lesser foot traffic of physical
stores, due to travel restrictions and safety measures.
To survive and thrive in the ever-changing climate of
the retail industry, retailers should have a thorough, wellplanned retail management strategy, incorporating digital
and physical customer experience that creates a lasting
value.
One effective strategy of keeping the boat afloat in
the industry is for larger enterprises to acquire companies
filing for Chapter 11 bankruptcy protection. In this
matter, a new management with more effective plans and
practices in handling the brand will likely sustain its sales
even during catastrophic scenarios.
The purpose of the study is to determine the action
plans and strategies to help Company Y survive this retail
apocalypse and to maintain its household name in North
America.
Keywords :
Retail, Retail Stores, Brick and Mortar, Bankruptcy, E-Commerce, Online Shopping, COVID-19.
