Many retail companies have shift their operations online to cope with the Covid-19 pandemic. Likewise, tech giant Microsoft is taking the same route.
Forbes has confirmed that Microsoft is closing all 83 retail stores across the globe for good. Instead, the company will focus on e-commerce and a few “Experience Centers” in flagship cities.
“Microsoft will continue to invest in its digital storefronts on Microsoft.com, and stores in Xbox and Windows, reaching more than 1.2 billion people every month in 190 markets,” Microsoft said, adding that London, New York, Sydney and the company’s Redmond, Washington headquarters will become Microsoft Experience Centers.
Microsoft will have to fork out “approximately USD 450 million, or USD 0.05 per share” as a result of its retail stores closure. No word yet on how many employees stand to lose their jobs.
So how will retail be affected by this pandemic? Forbes suggests that both “vendors and suppliers will need to connect directly with their customers, often bypassing third-party sellers like conventional retailers”.
Source: Forbes.
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