PPB Playbook -Buyers

I n the U.S. alone, there are more than one million retail establishments with the top five, in terms of annual 2019 revenue, being Walmart, Amazon, Costco, Kroger and Walgreens, according to the National Retail Federation. Of the top 50 online retailers, nearly all also operate brick-and-mortar stores. Industry-wide, online sales make up 10 percent of all retail sales, says the NRF. Changing consumer habits, including a rapid increase in online shopping, are driving an unprecedented transformation in retail but sales are still climbing. Over the past 10 years, retail sales have consistently grown more than four percent every year. In February 2020, retail sales reached $321.8 billion—the highest level yet. Retail continues to be one of the top markets for promotional products sales generating $744 million in sales in 2018. The COVID-19 pandemic has affected retail both posi- tively and negatively. Obviously, the sale of food, medicine, paper goods and cleaning supplies have increased retail traffic, but sales for non-essentials (clothing, non-food, lux- ury products and other discretionary items) have dropped. As sales have fallen, some stores have had to make tough decisions to close, terminate or lay off employees or de- clare bankruptcy. In recent months, two longtime icons in the retail sector, Neiman-Marcus and JC Penney, have filed Chapter 11 bankruptcy, which entails closing some stores permanently. Despite the challenges, analysts say they are optimistic about the future of retail. Right now, retailers are focused on how to keep shop- pers and employees safe when in their stores and help to prevent the spread of COVID-19. Most stores have imple- mented rigorous safety precautions including requiring masks for all who enter, limiting the number of people in a store at one time, adding physical barriers to check-out counters, banning reusable grocery bags and providing ad- ditional signage throughout the store, including floor decals in aisles to indicate traffic flow and reminders to stay six feet from others. Many also have hand sanitizer available as well as wipes for cart handles and have limited store hours to allow for new and increased sanitization procedures. Retail & Shopping PRODUCT CHECKLIST FOR RETAIL & SHOPPING ● Adhesive decals or mats at check- out lines ● Antimicrobial door-handle wraps ● Antimicrobial pens for signing receipts ● Antimicrobial styluses ● Counter mats ● Decal or signage on or near the front door with reminders for masks or other instructions ● Floor graphics ● Freestanding or permanently installed distancing barriers at check- out counters ● Grocery tote bags ● Hand sanitizer at check-out counters ● Hands-free sanitizer stations at entrances and exits ● Imprinted directional floor decals for aisles ● Pedestal signs ● Self-serve sanitizer wipes near shopping carts ● Touchless trash cans ● Uniforms ● Vinyl banners ● Yard signs to show support for workers THE PLAYBOOK TO RESTART BUSINESSES 9