The Egyptian Retail Industry is Experiencing a ‘Roller-Coaster’ Ride in 2020

The COVID-19 pandemic has fundamentally changed how people live and work, how and what they buy and how they think. All industries, undoubtedly, have been impacted by the COVID-19 crisis, but with varying degrees of severity. And for the retail industry, the effects were profound and lasting, and the crisis has already accelerated immense structural changes and has caught many retailers off guard. As consumers are now looking at products and brands through a new lens, retailers are left with no choice but to reconsider their operations, rethink their assortment and channel strategy, adjust how they approach customer experience to best position themselves in this recovery period. Retailers can’t afford to slacken their efforts, given the possibility that some changes in consumer behavior and demand might crystalize once the dust settles. Egypt so far has been hit relatively less by the virus due to the relative fast reopening of the market. In this article, we will be looking at how different retail categories, from food service to fashion, have been affected in Egypt. Also, given the severity and uncertainties in this disruption, we will also be identifying some actions that could help retailers steer through such crisis and turn massive challenges into meaningful change.