Store closures and sharp declines in discretionary consumer spending are anticipated to affect non-essential retail (e.g. non-food, apparel, fashion, and luxury products). Although the picture is mixed, some retailers have already had to make tough choices, including temporarily or permanently closing doors, creating new partnerships, liquidating assets or entering distress scenarios. On the other hand, some retailers have been uncovering opportunities to enhance value proposition, unlock cost synergies and provide better service to end consumers, through acquisitions of new business models and capability tuck-ins.