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

Research Article
Open access

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    
  • *corresponding author lindawei@bu.edu
Published on 21 March 2023 | https://doi.org/10.54254/2754-1169/4/2022996
AEMPS Vol.4
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-17-1
ISBN (Online): 978-1-915371-18-8

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

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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References

[1]. Mohsin, A. K. M., Lei Hongzhen, and Syed Far Abid Hossain. "Impact of COVID-19 pandemic on consumer economy: Countermeasures analysis." Sage Open 11.2 (2021): 21582440211008875.

[2]. Walters, Lurleen, Tara Wade, and Shellye Suttles. "Food and agricultural transportation challenges amid the COVID-19 Pandemic." Choices 35.3 (2020): 1-8.

[3]. Çakır, Metin, Qingxiao Li, and Xiaoli Yang. "COVID‐19 and fresh produce markets in the United States and China." Applied Economic Perspectives and Policy 43.1 (2021): 341-354.

[4]. Peel, Derrell. "Beef supply chains and the impact of the COVID-19 pandemic in the United States." Animal Frontiers 11.1 (2021): 33-38.

[5]. Deconinck, Koen, Ellie Avery, and Lee Ann Jackson. "Food supply chains and covid‐19: impacts and policy lessons." EuroChoices 19.3 (2020): 34-39.

[6]. Liu, Yizao, and Adam N. Rabinowitz. "The impact of the COVID‐19 pandemic on retail dairy prices." Agribusiness 37.1 (2021): 108-121.

[7]. Ramsey, A. Ford, et al. "Impacts of COVID‐19 and price transmission in US meat markets." Agricultural Economics 52.3 (2021): 441-458.

[8]. Qingbin, W. A. N. G., et al. "Impacts of the COVID-19 pandemic on the dairy industry: Lessons from China and the United States and policy implications." Journal of Integrative Agriculture 19.12 (2020): 2903-2915.

[9]. Kinsey, Eliza W., Dirk Kinsey, and Andrew G. Rundle. "COVID-19 and food insecurity: An uneven patchwork of responses." Journal of Urban Health 97.3 (2020): 332-335.

[10]. Taylor, James Bernard. The Effect of the COVID-19 Pandemic on Online Shopping at a Traditional Ground Retailer: Walmart, Inc from the Customer Perspective. Diss. Trident University International, 2022.

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

ISBN：978-1-915371-17-1(Print) / 978-1-915371-18-8(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://www.icemgd.org/
Conference date: 6 August 2022
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.4
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Mohsin, A. K. M., Lei Hongzhen, and Syed Far Abid Hossain. "Impact of COVID-19 pandemic on consumer economy: Countermeasures analysis." Sage Open 11.2 (2021): 21582440211008875.

[2]. Walters, Lurleen, Tara Wade, and Shellye Suttles. "Food and agricultural transportation challenges amid the COVID-19 Pandemic." Choices 35.3 (2020): 1-8.

[3]. Çakır, Metin, Qingxiao Li, and Xiaoli Yang. "COVID‐19 and fresh produce markets in the United States and China." Applied Economic Perspectives and Policy 43.1 (2021): 341-354.

[4]. Peel, Derrell. "Beef supply chains and the impact of the COVID-19 pandemic in the United States." Animal Frontiers 11.1 (2021): 33-38.

[5]. Deconinck, Koen, Ellie Avery, and Lee Ann Jackson. "Food supply chains and covid‐19: impacts and policy lessons." EuroChoices 19.3 (2020): 34-39.

[6]. Liu, Yizao, and Adam N. Rabinowitz. "The impact of the COVID‐19 pandemic on retail dairy prices." Agribusiness 37.1 (2021): 108-121.

[7]. Ramsey, A. Ford, et al. "Impacts of COVID‐19 and price transmission in US meat markets." Agricultural Economics 52.3 (2021): 441-458.

[8]. Qingbin, W. A. N. G., et al. "Impacts of the COVID-19 pandemic on the dairy industry: Lessons from China and the United States and policy implications." Journal of Integrative Agriculture 19.12 (2020): 2903-2915.

[9]. Kinsey, Eliza W., Dirk Kinsey, and Andrew G. Rundle. "COVID-19 and food insecurity: An uneven patchwork of responses." Journal of Urban Health 97.3 (2020): 332-335.

[10]. Taylor, James Bernard. The Effect of the COVID-19 Pandemic on Online Shopping at a Traditional Ground Retailer: Walmart, Inc from the Customer Perspective. Diss. Trident University International, 2022.

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