Is a Line of Credit Now Essential for Online Retailers During COVID-19? | Total Retail

Calling these days “unprecedented times” is an understatement. Along with all the uncertainties, what we do know is that mobility restrictions are critical to public health, and this takes a tremendous toll on retail. Brick-and-mortar stores are closed, and there’s a major shift towards e-commerce. Consider that e-commerce sales shot up by 40 percent in the U.S. after a state of emergency was declared on March 13, boosting verticals such as toys, sporting goods, and camping. This doesn’t mean that retailers will lose touch with their loyal customers, but they will need to focus on offering the same level of service online that customers have come to expect in-store. Read the full article.