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Surviving the Cash Crunch

It has become clear that the high street will take on a very different form once the pandemic is over – weaker players will cease to exist, leaving behind a smaller but more resilient group that has acted quickly.

This report by Alvarez & Marsal analyses how the COVID-19 pandemic has impacted the retail sector.
Key findings include:
  • Non-food retailers could see a decline in sales of 17 percent over 2020, equating to over £37 billion of lost revenue
  • 72 percent of consumers have prioritised essential purchases since the outbreak of the virus
  • Data from Kantar suggests that grocery sales in March 2020 rose by 20.6 percent on the previous year, making it the largest month of grocery sales ever recorded
  • Retailers will try to reduce labour costs by 50 percent through furloughing employees

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Related Experts

Erin Brookes
Managing Director
Alvarez & Marsal
Lynn Evison
Managing Director, Retail & Consumer Goods
Alvarez & Marsal
Philip Lawrence
Managing Director
Alvarez & Marsal

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