Faire launches COVID-19 impact calculator for retailers
Faire, a wholesale marketplace, published a resource guide to assist retailers during the pandemic including their COVID-19 impact calculator to help businesses measure the potential impact of the COVID-19 pandemic.
Retailers can utilize this calculator to help them better understand their overall financial picture. According to Faire, retailers will need to input their financial details, including cash on hand, average monthly revenue, and average monthly costs before the coronavirus outbreak. The second step is to enter changes to revenue and costs. The calculator will then generate a financial status and offer actions users can take to make it through the crisis.
Additionally, Faire has published Immediate Steps for Local Retailers During COVID-19 and even launched a resource hub on its website. On March 24, Faire hosted a webinar with Max Rhodes, CEO and co-founder that detailed recommendations on preparing retail business for the financial impacts of the pandemic.