Lululemon Says Coronavirus Curbed Sales Growth in March
Amid the Coronavirus outbreak, many companies and businesses were affected greatly due to the fact that they were forced to close down. Lululemon is no exception to that, they had to close down stores from all around the world which includes the U.S, Europe, and China. Although all but one store in China has now reopened the ones in the U.S and Europe plan to reopen early April. In China the sales are still not at the level they once were but are slowly getting better as the weeks go by. E-commerce has been a huge help to businesses in trying times like these and that is no different for Lululemon. Chief Executive Mr. McDonald made it known that the company is doing well during the crisis and free of debt.
This article caught my attention because I regularly shop at Lululemon and thought the Coronavirus would have made more damage to the company. To my surprise, they are doing well during this crisis. Online shoppers are keeping them afloat and that does not surprise me since I can be included in that pool of people. During this crisis, boredom has risen and that pushes people to occupy their time by online shopping. In the marketing world, Lululemon is excelling by reaching out to its customers and offering workout plans they can do from home which leads them to promote their products.
Hi Alma,
ReplyDeleteI think Lululemon is one of the companies that has been staying financially safe throughout this pandemic. As we hear about different retail chain going bankrupt, its hard to grasp the toll this has taken to the world, specially retail. Online has always been an option but now more than ever, companies have been pushing through all fronts to get an increase in sales through ecommerce.