Dear Readers welcome back to the second part of the 2020 warp-up! Every year, the JMS team pulls together industry-specific recommendations to help you jump into the new year with more clarity!
Welcome to branding24seven, the hub for your branding questions and motivation.
In case this is your first time visiting, this blog is the brainchild of JMStrategy LLC (JMS), a boutique consulting firm that devises tailor-made plans of action to render your brand as robust as possible. Now, without further ado, let’s dive into the three-part goodbye 2020 series that outlines key takeaways to keep at the forefront of industry-specific 2021 economic revitalization efforts.
In part one, this blog explored a temporary subscription model to help the travel industry rebound from the pandemic crash of 2020. Today’s publication, however, will be a lot more morose. Indeed, this blog examines the extent to which the coronavirus has decimated the movies and retail industries and how much more challenging a 2021 substantial recovery will be.
Has COVID-19 destroyed the movie industry for a long time?
No questions, Dear Readers, 2020 has been a calamitous one for the movie theatres. So many closed in October, for the second time after the mid-March one, choosing to furlough thousands of employees. Blockbuster movies such as 007 “No Time To Die” have seen their release date to spring 2021, for a second time, while others such as “Mulan” and “Wonder Woman 1984” skipped theaters altogether for a digital release that gave streaming services a better than anticipated 2020 performance.
But what about 2021? For now, the JMS team does not believe that the movie industry can come back in 2021. Not when Warner Bros. announced the release of its entire 2021 film catalog on both streaming services HBO Max and in theaters at the same time! So, Dear Readers, if you are in that industry and are among the thousand employees who lost their jobs, the JMS team suggests taking the time to reevaluate your goals or aspirations and plan for the comeback of a lifetime now!
Related: Loss Of Job Due To Coronavirus…. Now What? (By Request)
Has COVID-19 killed the retail industry for good?
Dear Readers, let’s be honest and acknowledge that the retail industry faces a tough uphill battle! The pandemic has accelerated a trend that was already on the horizon. Indeed, a few memorable bankruptcies were filling at the beginning of the year: Pier 1 Imports filed on February 17th, 2020, Art Van Furniture filed on March 9th, 2020, Bluestem brands filed on March 9th, 2020, Modell’s Sporting Goods filed on March 11th, 2020.
But with the coronavirus transforming malls into ghost towns, many tenants have had to close doors. How can they survive without sales if strict lockdown restrictions keep shoppers away? Understandingly, there were more high-profile bankruptcies in the summer: True Religion filed on April 13th, 2020, Roots USA filed on April 29th, 2020, J. Crew filed on May 4th, 2020, Aldo filed on May 7th, 2020, Neiman Marcus filed on May 7th, 2020, Stage Stores filed on May 11th, 2020, and J.C. Penney filed on May 15th, 2020.
In 2021, things are not looking up for malls and the retail industry. Not when another 787,000 Americans filed claims for jobless benefits for the first time at the writing of publication! Consequently, the JMS team believes that the time has come to revamp the retail space. Indeed, to attract new consumers after the pandemic, mall owners will have to shake things up and improve the shopping experience. Can they nestle between retail shops community-based gathering options such as short-term pop-up shops in partnerships with popular lifestyle social media gurus? For example, they could revamp the traditional bowling alley phenomenon to cultivate clean family fun with a modern twist to attract the ever-shortening attention span of today’s customers? As for you, Dear Readers, if you work in the retail industry, this blog has three practical tips to help you find a job you’ll love.
Final thoughts.
There you have it, Dear Readers! Thank you so much for stopping by the blog today to read the JMS year-end wrap-up part two! What are your thoughts? Do you agree, or do you think we’ve missed anything? Let us know by email at jms@branding24seven.com or by mail at
JMStrategy LLC
21 S. 11th Street, 2nd Floor, Philadelphia, PA, 19107.
Come back this week for the next part, Dear Readers, and stay safe!
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