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Provide a thoughtful 250 total word response to the following questions (you will need to answer all parts of this question) by clicking REPLY below. Please separate your answers to clearly differentiate your answers to each question below. It makes it easier to see your specific response to each part.
This week there is only one question that all students will answer:
DQ â€“ Coronavirus and Retailing
From school to your social lives, you have seen a lot of changes in your daily lives over the past couple of months due to the COVID-19 Pandemic and the resulting health concerns and government orders. Retailers have been impacted as well. With this in mind, please analyze what has happened… and forecast what may be ahead from the retailing and consumer perspective by answering the following questions:
Thinking about the Costco retailer to follow for the Retail Recon Assignment, please do some research and summarize to us how they first reacted to this situation in March and April.
Looking at Chapter 3, how did Costco retailer using multi- or omnichannel retailing in this event?
Looking at Chapter 4, what consumer behavior concepts did you see in March and April (or are you seeing now) in the world around us (you can talk about what you’ve seen AND/OR you could look at how consumer behavior has changed for you and/or your family)?
What one strategic move (and you must offer one here, don’t just say “keep doing what they’re doing, for example) would you suggest to Costco retailer based on what you have seen or how consumers are reacting – specific to the Coronavirus situation at hand. Please be specific here and discuss WHY you answered the way you did.
Please keep the discussions here very civil and retail- and consumer-focused. While I’m sure we all have differing views (political or otherwise), I really want you to think about what you would do if you were in charge of a retailer in this environment.