Financial & Business News
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Crisis Management: Big-box retailer advantage through lockdown is ‘unfair’
Ontario announced last week that starting Monday all non-essential retail stores in Toronto and Peel will be limited to curbside pick-up only for at least 28-days. Some retailers, including grocery, hardware and big box stores, are allowed to remain open with reduced capacity. The Retail Council of Canada (RCC) and the Canadian Federation of Independent Business (CFIB) are pushing the government to allow non-essential retailers to open, saying the lockdown threatens the survival of many small businesses that depend on the busy holiday shopping season. The CFIB is also taking issue with the government’s decision to shutter non-essential businesses, while allowing big box stores such as Walmart and Costco to remain open. As business strategy expert Mark Satov tells Yahoo Finance Canada's Alicja Siekierska, the advantage that big-box retailers is unfair to small businesses – but shutting down aisles within the stores that feature non-essential goods is not the right approach.
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Crisis Management: ‘Black Friday is diminished in importance’
Black Friday is typically the time of year when consumers wait in long lines, sometimes stampeding through big box retailers in order to get their hands on the best deals. But Black Friday is expected to be different this year, thank to the COVID-19 pandemic. For the first time ever, more consumers plan on shopping online than in brick-and-mortar stores, according to a Deloitte survey. A survey conducted by Shopify found that half of Canadians plan on shopping over Black Friday and Cyber Monday, spending more than they did in previous years. The shopping event is also a critical time for many small businesses. The Retail Council of Canada estimates that 40 per cent of small business revenues fall in this holiday shopping period, which includes Black Friday. So what should businesses be doing to make sure they are able to capitalize on the event? Strategy expert Mark Satov outlines his advice, and why Black Friday is not as important these days for big box retailers.
TechnologyYahoo Finance CanadaHow to share your laptop screen to your TV for holiday parties
A tech expert offers some advice on how to make your holiday party more fun using different online tools.
