survive the pandemic Balanced News

Rebuilding the post-pandemic future of retail’s ‘super women’


For women in the retail industry, the last year has left many with a sense of uncertainty. Despite the challenges, today’s ‘super women’ are looking for ways to power up their finances and superannuation and move forward towards a personal-best post-pandemic recovery.It is safe to say that the pandemic did not play a fair game across all industries of the economy, impacting the retail industry in a way that forced retailers to pivot and rethink their consumer strategy. While those with an online sales presence may have managed to adapt and survive the tumultuous wave, it seems those retailers who relied on the foot traffic of a brick-and-mortar store front had a much harder struggle. It was one that not only impacted their sales and business, but which also directly affected the lives of the many retail workers who either lost their jobs or saw a significant reduction in hours. For the most part, and as a recent study conducted by the SDA (2020) highlights, these retail workers were predominantly women.The study, which looked at the Gendered Impact of COVID-19, made it apparent that in the early stages of the pandemic, industries with female-dominant employment were in fact hit harder. The statistics showed that in April last year, 80,000 more women than men were out of work. This undoubtedly left many women in a position to rely on their savings, or to access their superannuation through the Government’s Early Release Scheme, in order to survive financially through the pandemic. Many of these women are now in a position to have to rebuild their nest egg by funding their own COVID recovery.     Apr 11, 2021