Checkout
When Chinese Consumers Stay Home, the World’s Retailers Take Hit
- Retailers and consumer-goods makers warn of harm to business
- Burberry withdraws forecast, saying virus slashed China sales
This article is for subscribers only.
The spreading coronavirus is showing the world what happens when Chinese consumers stay away: Shopping streets empty out, stores close and sellers of everything from sneakers to fancy handbags sound the alarms.
Across China, where the deadly outbreak emerged, shopping malls have been shuttered. In the cosmetics shops of Seoul, the glitzy department stores of Tokyo’s Ginza district and the luxury boutiques of Paris, Chinese tourists are dwindling. Taking the hit are companies ranging from U.S. sportswear giant Nike Inc. to Japanese cosmetics maker Shiseido Co. to British fashion brand Burberry Group Plc.