Department Stores: Inc Impact of COVID-19 - Italy - April 2020
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“Department stores in Italy are under assault from multiple directions at the moment, with intense competition from online generalists like Amazon, online pureplayers such as Zalando and YNAP, as well as store-based specialists with well-developed omnichannel business models. To survive, they need to focus on giving customers what these other rivals may not be so well able to and this means greater levels of individual customer service and making a visit to a department store a real experience. It is too early to quantify but the COVID-19 outbreak seems certain to have a significant impact on the department stores sector and especially market leader Rinascente, which derives 30% of its sales from tourists, in 2020, due to the government decree ordering the closure of non-essential stores.”
– Michael Oliver, Senior Retail Analyst – 21st April 2020
Key issues covered in this Report
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