The Effect of Covid-19 on Retail Industry in the US

Jianing Wei

doi:10.54254/2754-1169/4/2022996

Research Article

Open access

Published on 21 March 2023

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Wei,J. (2023). The Effect of Covid-19 on Retail Industry in the US. Advances in Economics, Management and Political Sciences,4,725-730.

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The Effect of Covid-19 on Retail Industry in the US

Jianing Wei *^,1,

¹ Questrom School of Business, Boston University, Boston, MA 02215, USA

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2754-1169/4/2022996

Abstract

This paper introduces a major infectious disease, Covid-19, that broke out in 2022. It spread out in a very fast speed and cause a deep influence on the people’s society, especially the retail industry. The main purpose of the article is to define the specific influences or problems that retailers faced because of Covid-19, and solutions came from it. To deal with a fast infected disease like Covid-19, the government usually publish new policies. The article focused on the United State. However, a comparison between the actions of the U.S. government and the Chinese government is listed to prove a better reaction and policies. Compare to China, the U.S. government reacted less and most patient did not get a proper treatment. It caused some problems such as most stores closed, disruption of supply chain and food chain, and increasing of unemployment rate, which caused a lot of pressure on retailers who heavily relied on those factors. In order to help retailers, the U.S. government, especially the Federal Reserve, gave a lot of support on stock market, and the usage of delivery services and online shopping was also helped. Although the Covid-19 caused many problems on retail industry and lead to a severe economic recession, with the support of the government and other solutions, it was getting better.

Keywords

Covid-19, Retail Industry, Delivery Services

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References

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Cite this article

Wei,J. (2023). The Effect of Covid-19 on Retail Industry in the US. Advances in Economics, Management and Political Sciences,4,725-730.

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About volume

Volume title: Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ

Conference website: https://www.icemgd.org/

ISBN：978-1-915371-17-1(Print) / 978-1-915371-18-8(Online)

Conference date: 6 August 2022

Editor：Canh Thien Dang, Javier Cifuentes-Faura

Series: Advances in Economics, Management and Political Sciences

Volume number: Vol.4

ISSN：2754-1169(Print) / 2754-1177(Online)

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