General
If companies have learned anything from the pandemic, it is the importance of being agile and resilient. The Covid crisis has changed consumer behaviour globally and permanently, according to Accenture.
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Property
Soon non-essential stores in the Benelux will be allowed to fully open their doors again, but how big are their chances of survival? Will it be a battlefield or a resilient recovery? Locatus calculated the risks and assessed the impact of the coronavirus pandemic.
Food
In most European countries, food retailer brands maintained their volume share during the pandemic. "A sign of confidence," according to private label manufacturers. However, selling prices were under pressure.
It has been a historic year for supermarkets, and Tesco is no exception: the British market leader saw its sales rise by almost 9 %, but the extra costs were so high that profits fell by around 20 %.
Fashion
French luxury group LVMH has presented excellent results as Chinese and American consumers, in particular, are once again happy to treat themselves to handbags and champagne in the absence of other entertainment.
From Saturday, France will again go into a strict lockdown. The measures currently in force in one part of the nation will be extended to the entire country.
The coronavirus crisis hit Belgian start-ups and scale-ups even harder than expected: they all experienced sharper declines in their growth than anticipated. Yet, they remain optimistic about the future. This year, they even want to hire an average of five new employees.
Furniture
The compulsory store closures in the Netherlands affected Beter Bed's revenue in the first quarter. However, once customers have been able to shop by appointment again, things have improved considerably.
Upheaval in Germany: Chancellor Angela Merkel has already withdrawn the "Easter break" announced earlier this week, which would involve shutting down the country almost completely for five days.
The Belgian government has announced stricter lockdown measures to bring the rising corona virus figures back down. For non-essential shops, shopping by appointment will apply from Saturday.
Out of fear of a third wave, Germany is going to tighten its Covid-19 measures again. From 1 to 5 April, public life will be largely paralysed, and even food stores will have to remain closed for four of the five days.
Belgian praline producer Leonidas is suffering from the effects of the Covid-19 crisis. Its sales largely depend on tourists, and they will not be returning anytime soon. Up to one in ten stores may have to be closed, its CEO says.
The Italian fashion house Prada saw nearly all its profits go up in smoke due to Covid. However, they show no sign of despair, as the recovery already took off in the second half of the year.
Cosmetics
For a short while, Aldi sold rapid tests to detect the Covid-19 virus, but they were sold out practically everywhere in no time. Several other retailers will soon be offering the tests as well.
During the corona crisis, luxury department stores proved surprisingly agile. Now they need to become stronger brands, by focusing on new services and storytelling. "Digital is a tool, not a goal," says Selvane Mohandas of sector organisation IADS.
Next week, some easing of Covid measures will go into effect for non-essential German stores. In the UK, retailers will have to wait until 12 April.
