Retail Impact of COVID-19 is Devastating for Tea and Coffee Shops in China and Italy
Statistics compiled from a survey of retailers following China’s unprecedented lockdown of 700 million people reveal that while international chains like Starbucks and Costa and big national chains, including Ten Ren and Luckin, experienced severe financial setbacks, independent tea and coffee shops suffered mortal blows. Now that the contagion has spread to Italy, shop owners…
