The retail industry is currently in a period of disruption unique in its scale and severity. The global outbreak of COVID-19 has impacted parts of the industry in different ways. While businesses in the grocery sector grapple with supply chain issues, those selling consumer goods and apparel have been challenged by store closures and rapid growth of online sales. Across Saudi Arabia, landlords and retailers have been collectively minimising losses through offering generous incentives to support rental freezes for 1-3 months, along with offering consumer promotions. The acceleration of e-commerce has been notable across the Kingdom.
This report [ 7644 kb ] looks at the steps retail businesses need to take to put themselves in the best position for the ‘new normal’ that will emerge once lockdown restrictions are eased. From liquidity to debt and restructuring, the challenges retailers face are diverse and complex. We also consider implications for employers and how financial planning for the medium and long term will be affected.
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