KHD Buzz – Coronavirus and Retail, Amazon Buys Manhattan Retail Icon and More
Store Traffic is Dropping – Will eCommerce Help?
Coronavirus has, experts say, led to a drop in retail foot traffic across the US of about one third. However, although one might expect e-commerce to pick up the slack, some financial and retail experts do not think that will be the case. Read More.
Retailers Large and Small Begin Coronavirus ‘Crowd Control’
In response the to the advice to make social distance as much of an everyday thing as possible during the COVID -19 outbreak, retailers large and small who do not want to close unless forced to are putting in place voluntary social distancing measures and introducing things like free delivery, curbside delivery and more. Read More
Trump Turns To Walmart, Target and Other Retail Giants to Help Tackle the Coronavirus Crisis
After being criticized over a slow response last week to the coronavirus spread, President Trump turned to big retailers like Walmart and Target for help. Trump lauded the CEOs as “celebrities in their own right” and praised their companies as the greatest in the world. The executives, like Walmart chief Doug McMillon, said they will help America ramp up its testing by offering space in their parking lots. Read More
Amazon Buys Manhattan Retail Icon From WeWork
WeWork, the now near defunct coworking startup, was very ambitious to say the least. One of its early acquisitions was the iconic Lord & Taylor building on Fifth Avenue, on which they took a $750 million construction loan to renovate the space into open offices. Amazon agreed to buy space for $1.15 billion. But what does Jeff Bezos intend to do with what is an amazing, if expensive, Manhattan real estate purchase. Read More