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Impact of COVID-19 on Retail Sector and Government Policies for Economic Recovery

   

Added on  2023-01-05

13 Pages3271 Words21 Views
Economics for Business
Impact of COVID-19 on Retail Sector and Government Policies for Economic Recovery_1
Executive Summary
Retail sector is one of the largest industry where companies in the worst impact of COVID-
19 yet got success to manage demand of its goods and services. Through online delivery options,
door to door services and more, this sector helps people who are restricted to stay at home for
prevention from coronavirus, in meeting their demands of essential goods like food and
groceries. But other retailers like clothing, furniture, cosmetics and more, fails to maintain their
sales performance. Along with this, it also affects business of small retailers who operate
business through physical stores only. Therefore, Government of UK needs to develop better
policies for supporting retail industry to overcome from negative impact of this pandemic.
Impact of COVID-19 on Retail Sector and Government Policies for Economic Recovery_2
Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................1
Task 1...............................................................................................................................................1
Supply and Demand analysis to determine the factors impact on consumer retail demand........1
Task 2...............................................................................................................................................5
Governmental and Economic policies of UK for economic recovery from loss of consumer
retail spending..............................................................................................................................5
Conclusion.......................................................................................................................................7
REFERENCES................................................................................................................................8
Impact of COVID-19 on Retail Sector and Government Policies for Economic Recovery_3
Impact of COVID-19 on Retail Sector and Government Policies for Economic Recovery_4

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