After closing stores to limit the spread of the COVID-19, several retailers are dangling site-wide discounts and free shipping to entice people stuck at home to shop. Nike recently sent out an email to customers offering a 25 per cent discount on everything on its website. The brand’s revenue could fall by a third during their quarter ending May 31, according to estimates from financial services firm Cowen & Co, as it reels from hundreds of store closures across the United States and in other markets, supply disruptions and the suspension of this year's NBA season due to the pandemic.
Retailers are desperate to make-up for zero foot traffic after the rapidly spreading Coronavirus forced them to close dozens - and in some cases hundreds - of stores. Nordstrom recently pulled its fiscal 2020 forecast, as did Abercrombie & Fitch and the RealReal, among others.
A slew of retailers, including LVMH's Sephora and Macy's, which closed stores across the United States earlier this week, are waiving shipping fees, or lowering the minimum amount shoppers must spend in order to qualify for free shipping.