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Flea Markets in a holding pattern

Is there any industry still untouched by COVID? Maybe, but unfortunately, the Flea Market industry isn’t one of them, just like most businesses, markets have been hit hard by this epidemic.  Even those markets sprawled out in fields, you know, those hidden gems that locals love to populate on lazy Sunday afternoons – yup those too.

A successful market is a crowded market and that’s a big problem in 2020.  With this in mind, many states have enacted executive orders preventing markets from even operating.  If you are lucky enough to reside in a state allowing markets to operate, they do so only when certain conditions are met.  These can include limits on market capacity, required face masks, social distancing, and limits on vendor booths.   Although the restrictions are necessary and important, these restrictions have taken a toll on the whole Flea Market experience.  People attend markets to socialize, browse, shop, enjoy carnival like treats and most importantly RELAX.  The experience has become stressful and fearful, as a result, market attendance is at an all time low.

 

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Supply Chain Rebooting?

Microsoft and Apple have both announced updates to their revenue guidance Q3, FY2020.  A slow supply chain has been one of several reasons provided for these altered forecasts. Goldman Sachs has predicted that “US companies will generate no earnings growth in 2020. We have updated our earnings model to incorporate the likelihood that the virus becomes widespread.”  This is just some of the fallout COVID-19 otherwise known as coronavirus is having on the global economy.  The report further states, “If COVID-19 spreads rapidly, supply chain delays could persist, US consumer demand could plummet, and firms could lay off workers in an effort to maintain margins,”

 

When a significant supply chain is all but stopped, starting again can be slow going. Industry giant Coca-Cola has become concerned that supply chain shortages could impact its beverages, those which have ingredients sourced directly from China.

The CDC has warned that COVID-19 will continue to spread, consumers in areas of infection can’t shop for products, shops find themselves without customers and close, factories then lay off workers and the cycle repeats.  If the outbreak is limited to mostly China activity could return to normal by 2nd QTR.  Unfortunately, the spread seems inevitable and is no longer if but when.

So, what can businesses do? planning for possible disruptions is going to be their best course of action, suppliers should ensure they have alternative supply sources ready.  They should also take advantage of supplies that are available now, they may not be later.

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