Research suggests how businesses should reopen after coronacrisis

The study is based on location data from smartphones, nationally representative consumer preference surveys, and government statistics

coronavirus

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.

Across the country, state leaders are making decisions in the dark about which types of businesses and locations can reopen and which ones should be kept closed to prevent the spread of COVID-19. But in the fight against this pandemic, intuition alone isn't good enough. Our research offers empirical evidence about the relative dangers and advantages of reopening stores and gathering places, to help governors and state officials reach decisions
Avinash Collis, a doctoral candidate in Information Technologies at the MIT Sloan School of Management

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.

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