Hurricane Sandy: What effect on the economy?

From RetailWire, some speculation earlier this week about the effects of Sandy on the retail industry. (The first comment, below, discusses ways in which retailers and service providers can provide much-needed relief to customers right now.) Here’s my take:

Second question first: Altruism is good business as well as the right thing to do. It becomes an easy decision for retailers and service providers to offer help to people in need…including their own customer base. I heard Danny Meyer discussing being able to open his upper Manhattan Shake Shack locations — in order to distribute free food yesterday — even though his downtown restaurants are closed for the immediate future.

As to the effects on the retail industry, Sandy’s effects and footprint are so huge that there will absolutely be an impact on short-term sales as well as logistical issues. Longer-term, the biggest benefit (as usual after an event like this) will hit the sellers of food, “necessities” and home repair products.


0 Responses to “Hurricane Sandy: What effect on the economy?”

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