The study is based on location data from smartphones, nationally representative consumer preference surveys, and government statistics
Research suggests how businesses should reopen after coronacrisis. Source: unsplash.com
MIT Sloan School of Management conducted research revealing that banks, other financial institutions, and retail stores should be among the first businesses to reopen. The reason for this is that they provide lots of economic and social value and have large spaces that limit crowding.
The analysis revealed that the next phase of reopening should include colleges, universities, places of worship, auto dealers, and repair shops. Although, electronics and furniture stores should be reopened before sporting goods and liquor and tobacco stores.
The researchers think that gyms, cafes, juice bars, and dessert shops should be among the last businesses to reopen since they provide very limited economic benefits compared to their risks.
We’ve reported that UK e-commerce EKM has introduced a new product for helping small businesses reach their local customers. This solution is called Obodo which offers a free online shop for local brick and mortar businesses.
SEE ALSO:
- When will retail stores reopen? – a global overview
- How to shop during the quarantine
- Coronavirus to affect payments and boost food delivery market
