In a crisis as big as this one, acting on the immediate challenges is critical. Thinking about the longer-term may seem impossible, or at least deferrable. But in many ways, it is even more important.
At this point we can only imagine the longer-term effects of the Covid-19 pandemic on the retail sector. A protracted recession may follow, consumer behaviour may be permanently altered, or there may be enduring changes in industry structure. The ending is not yet clear.
But it seems likely that the fall-out will go well beyond the short-term demand and supply shocks which we are currently fighting with, however seismic.
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