5 Ways Coronavirus Will Forever Change Retail
Following World War II, i.e. the last event of a similar magnitude to what the world now faces with coronavirus, the United States was focused on controlling the spread of communism. One popular theory at the time, domino theory, suggested that the rise of communism in one nation could quickly spread into other nations. And, while this Cold War-era paranoia is no longer relevant in today’s day and age, the concept is nonetheless still useful in examining what impact the events of the last few weeks will have on the future of many industries, especially retail. Like dominoes lined up perfectly one after another on a floor, the coronavirus will begin to knock down the various barriers to change that have held almost everyone in the retail industry not named Amazon back over the past few decades. One by one, new innovations will take hold until retail’s future looks quite different from the world everyone knew as recently as last Valentine’s Day. Some of the impacts are already taking shape, while others are still years away. Read more at Forbes.
