Coronavirus…What will happen next?
Big companies impacts.
Basically, all business that rely on China as part of their supply chains, or have big retail presences within the country, face similar challenges as Chinese companies do.
Many business simply closed. Apple closed its stores and corporate headquarters, and had thought about reopening half the stores in mid February. Starbucks shut down around 2.000 stores in China.
Amazon, who often rely on cheap Chinese products are getting hit with the dwindling stock to sell. Amazon has never had such a massive amount of inventory problems as we are about to see.
Coronavirus will end up costing the luxury market around 43$ billions en sales in 2020. Luxury fashion brands depend heavily on Chinese buyers.
Today, what all citizens can do to stop COVID- 19, is to stay at home as long as the authorities tell as, and support our local business and economy. Let’s start traveling through our country so the local economy increases when this is over.