PORTLAND, Ore., Feb. 12, 2020 /PRNewswire-PRWeb/ -- The Coronavirus has damaged brick-and-mortar retail operations in China while simultaneously increasing sales for online merchants.
With over 40,000 infected cases reported, in order to curb the virus' spread, the Chinese government has locked down cities, issued travel restrictions, and advised its people to avoid busy areas. Brick-and-mortar businesses are heeding the warnings and adjusting to the conditions.
Major retailers such as Nike and Adidas have both announced mass closures and reduced hours of many of their Chinese stores. Nike has further stated, "In the short term, we expect the situation to have a material impact on our operations in Greater China."
Individuals are exercising precaution by restricting their travel and daily outings. As a direct consequence, online shopping has spiked.
Daniel Dai founder of RebatesMe, a US cashback site popular with many Chinese online shoppers, goes on to explain, "We've seen online sales from China more than double recently for US brands. This is highly unusual. The Lunar New Year is a time where online shopping decreases due to people traveling and spending time with their extended family. But because of the virus, a lot of people are spending the holiday at home and online."
The disruption of normal celebrations coupled with precautionary health practices have seen people turning to online resources to fill their needs. Along with increases in overall online shopping, RebatesMe also observed increases in specific areas such as streaming services and online educational services.
However, the long-term ramifications on ecommerce are unknown. As governments, businesses, and health organizations fight to determine the spread and scope of the virus, its overall economic impact on both brick-and-mortar and online retailers worldwide remains unknown.
Since 2013, RebatesMe has been offering people around the world cashback, deals, and discounts when they shop online. With offices in the US and China, RebatesMe is a leading cashback site for US and Chinese consumers. RebatesMe partners with over 3,000 stores across the globe in order to connect people with great deals. For more information visit http://www.rebatesme.com
SOURCE RebatesMe LLC