Special Issue: How to tackle global retail apocalypse using strategic omnichannel management?

摘要

The global retailing industry from New York to New Delhi, Sydney to Shanghai or Paris to London faces a doomsday scenario of biblical proportions due to the one impact of a global pandemic. PVH Corp. CEO Manny Chirico said he expects 20% to 25% of all US stores to close in the next two to three years (Business Insider, 2020). It is experiencing changing shopping patterns, slowing foot traffic, and increased threats from online competitors. For example, Macy's market capitalization has dropped to $1.5 billion from about $6 billion in mid-February, 2020 (CNBC, 2020). Big retailers (e.g., JCPenney, Gap, H&M) and service firms (e.g., Virgin, United Airlines, Delta) are cancelling orders to cut costs and laying off tens of thousands of workers. In order to survive, retailers are putting projects on hold, cutting investment, and reducing other expenses on technology or consultants. Due to non-operation and supply chain disruption, both big and small retailers are facing a massive cash flow problem. This is predicted to result in a retail apocalypse for its mass store closures and a high level of retail bankruptcies. Most retailers are overwhelmed by this situation, and there is no clear view of what retail would look like or how to adjust shifting consumer behaviour in the next few years. In this context, this special issue looks for robust retail solutions applying omnichannel retailing theories, practices, or cases to address the upcoming upheaval in business across the world.