SWANKY NYC DEPARTMENT STORES REOPEN

Saks Fifth Avenue reopened all 40 of its stores in the U.S. by 24 June, including its flagship New York City store.
The Manhattan emporium has installed ultraviolet handrail cleaners on its 22 escalators and scattered 100 hand sanitizing stations throughout the 10-floor store. Shoppers and staff are required to wear face masks. Elevators are reserved for elderly or frail customers. Shoppers can book appointments with sales associates or reserve a dressing room in advance.
Customers uneasy about being in crowds can make personal appointments to visit the store during the two hours before its 11 a.m. opening time or after it closes at 7 p.m.
The store has reported steady traffic for its luxury handbags, expensive shoes, and other high-end goods.
The Saks store usually collects a third of its revenue from tourists, but CEO Marc Metrick thinks it can make up that lost revenue through the “captive shoppers” who live in New York and are not traveling now outside the region.
Each shopper entering the now-reopened Tiffany’s will be escorted around the store by a salesperson who will politely enforce social distancing. Jewelry will be sanitized after a customer handles it.
Bergdorf Goodman also is booking appointments for its New York City shoppers.
TREND FORECAST: Once again, the “experience” has been sapped out of life. Under these new ABnormal rules, regulations, and restrictions – plus the decline in tourism, which was a big boost for luxury retailers – there will be no bounce back in business.
In fact, we forecast a surge in retail bankruptcies. At this juncture, the realization of the devastation from the COVID War will hit both Wall Street and Main Street in the last quarter of this year.