How retailers can connect with customers amid Covid-19
The global retail industry has been hit hard by the Covid-19 crisis. In the US, denim brand True Religion filed for bankruptcy on April 15 and luxury department store Neiman Marcus Group is also pursuing a bankruptcy protection, with the pandemic forcing the debt-laden company to close stores and lay off staff.
Last month, sales of clothing and accessories in retail stores fell 51 per cent in comparison to the same period last year, according to data from the US Department of Commerce.
Closer to home, The Modist, a Dubai luxury fashion e-commerce company, said on its Instagram page it was shutting down as a result of the pandemic.
Mall operators in the UAE, however, are adopting a different approach to support retailers.
Dubai-based retailer Majid Al Futtaim, which operates 27 shopping malls across the Mena region, has waived rents for its tenants for the duration of the Covid-19 mandated store closure period. The Dubai Mall has signed an with regional e-commerce platform Noon.com to allow customers to shop online through Noon from the mall’s more than 1,300 stores.
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