Impact of the pandemic on retail trade in Ukraine

Abstract

The coronavirus pandemic has had a significant impact on all areas of society. The epidemiological environment has given much uncertainty to consumers and companies alike, resulting in adaptation to the new insular environment. This article examines the impact of the coronavirus pandemic on the retail industry. Emphasis is placed on how COVID-19 has influenced changes in assortment policy in the retail sector. The prevailing epidemiological situation led to increased prices. Moreover, due to the introduction of social distancing requirements, retail shop closures and recommendations for isolation measures to prevent the spread of the virus, consumers have been spending more time purchasing goods online, using contactless payment and receipt. The study also shows that the behavioural shift in consumer actions has predominantly occurred towards digital platforms and digital content, which has created real opportunities for brands to promote beauty products by targeting advertising messages to the audiences through new Internet marketing tools. With the rise in social media engagement and the desire for digital content, new opportunities have opened up for cosmetic retailers to help maintain communication with consumers even during a pandemic.