Our world is currently going through one of the biggest pandemics and has put our economy in a tailspin unlike any other. The three biggest retailers who have taken this hit are J. Crew, Neiman Marcus Group, and JCPenny, one of the largest department stores in America. JCPenny represents the biggest casualty during the COVID-19 pandemics due to the number of stores closing. A total of 242 stores will be closed, in those tallied stores are what are called anchor stores, these are the department stores in malls that act as landmarks and help the mall stay in business. Malls all over the country have been struggling while remaining closed and with JCPenny closing these locations it leaves the question of what depart store will take their place or if the malls will close for business permanently.
According to experts, JCPenney bankruptcy is expected to cause a domino effect in the retail world. While the retail world is compromised as cities all over the world are going on lockdown and shelter in place, it has left room for online shopping to thrive. Online shopping has become the main experience for customers. On average e-commerce sales have been up 30 % since March of 2020 compared to the previous years. While this increase in e-commerce has helped the economy these sales have mostly been in entertainment products like books, games, or puzzles.
Apparel and jewelry sales have always flourished on online sales but have now been declining in the COVID-19 pandemic. Some families are trying to make ends meet and not buy any new or unnecessary products at this time but others have the mindset, why buy something new for no one to see it or they have no wear to go to dress up. But the biggest problem is the worry that items won’t fit properly.
One way Liv’Hipp can help with making sure to buy the right pair of shoes that fit? Try them on! Liv’Hipp will offer a service that allows customers to try on a pair of shoes and if they fit, perfect, but if not send them back and try for the next size. Also, our sizing chart helps convert European sizes with American sizes to get the best fit possible.