COVID-19: Retail’s New Reality
The retail industry is one that has been significantly impacted by technology with the growth of online-only retail platforms, the rising cost of labor and the growth of alternative payment platforms such as mobile wallets. Ironically, in spite of this disruption, our retail consumer study conducted in May clearly identifies that retail stores remain a viable channel for consumers to shop post-pandemic.
The key question we wanted to answer as part of the study, namely with the arrival of COVID-19 and its impact on all industries, was what impact it will have on the role of bricks and mortar locations both short and long term, and whether the move to digital has helped retailers maintain an acceptable level of operation?
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