To gauge the industry response to the COVID-19 pandemic, CBRE Asia Pacific Research conducted a flash survey of about 180 retail clients between April 28 and May 21, 2020.
What’s top of mind for retailers in the age of COVID-19?
- The Big Picture: 61% of respondents expect it will take six months or more for sales to return to pre-COVID-19 levels after business resumes.
- The Shift Online: 31% of respondents say the pandemic led to digital sales becoming their core business. Most respondents plan to accelerate investment in online retailing and delivery apps.
- Store Network Adjustment: While consolidation of brick and mortar sales networks is inevitable, 75% of respondents still intend to increase or maintain investment in their in-store experience.