The impacts of COVID-19 on the retail industry
Ren, Zeju (2021)
Ren, Zeju
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021053112617
https://urn.fi/URN:NBN:fi:amk-2021053112617
Tiivistelmä
Nowadays, the whole world is being afflicted by the COVID-19 pandemic. The lives of humans are threatened. Thus, governments successively published a series of policies to combat the pandemic. However, such situations tremendously affected the business world as well, especially in the retail industry which relies on connecting with customers. According to the government statistics and reliable data, thousands and hundreds of stores and companies were closed or went bankrupted, causing numerous people to lose their jobs. The aim of this research placed emphasis on how retail companies changed internally during the pandemic, providing a glimpse of this transformation.
In this thesis, it applied inductive reasoning and qualitative method to fill out the theoretical part and the empirical part respectively. For the data collection, the secondary and the primary sources were acquired. The secondary sources were grabbed from the literature library, government announcement and statistics, news, famous websites, and other national associations. On the other hand, the primary sources were collected from interviews.
The theoretical part is divided into three main bodies: optimizing company structure, resetting company priority, and retraining employees. Each main body offered sufficient arguments to support the theory. And the empirical part provided evidence by analyzing the answers of interviewees who were selected from different categories of the retail industry on purpose.
In conclusion, the research questions were answered, and the validity and the reliability were verified, accompanied by suggestions for future research.
In this thesis, it applied inductive reasoning and qualitative method to fill out the theoretical part and the empirical part respectively. For the data collection, the secondary and the primary sources were acquired. The secondary sources were grabbed from the literature library, government announcement and statistics, news, famous websites, and other national associations. On the other hand, the primary sources were collected from interviews.
The theoretical part is divided into three main bodies: optimizing company structure, resetting company priority, and retraining employees. Each main body offered sufficient arguments to support the theory. And the empirical part provided evidence by analyzing the answers of interviewees who were selected from different categories of the retail industry on purpose.
In conclusion, the research questions were answered, and the validity and the reliability were verified, accompanied by suggestions for future research.