Hurricane retail volume could exceed peak holiday sales period
In the run up to Hurricane Irma this week, some retailers are experiencing a surge in volume which could surpass the year-end holiday shopping sales period, according to our retail experts.
Michele Dupré who leads Retail, Hospitality & Distribution for Verizon Enterprise Solutions says the pending storm is taxing retailers on virtually every front -- in-store, online, the supply chain and their distribution channels.
“It’s critical for retailers to manage their inventory quickly and as Irma approaches, they’re under even more pressure to perform,” said Dupré. “Consumer demand in South Florida over the past few days is similar to what we typically see during peak holiday season. The key difference is that demand and retail sales associated with Irma has been compressed to a one-week timeframe and a much narrower geography as opposed to a six-week holiday period on a national scale.”
Dupré says that how quickly retailers recover after the storm to continue to serve their customers, particularly those most impacted, is equally as important.
Reported by Jeremy Godwin