One Year Later: A ‘Retail Renaissance’ Is On The Horizon
For the decade leading up to the pandemic, experts analyzed and feared a “retail apocalypse” due to the financial crisis and rapid changes in consumer behavior. Who could have predicted that a global health crisis lasting more than a year would create an environment where the retail industry would demonstrate its resilience through innovation and adaptation? We learned a lot over the last year. Many companies that were well-positioned prior to the pandemic are in a place to thrive coming out of it. Once consumers felt safe to return, retailers with strong leadership and steady balance sheets were able to accelerate their businesses. As vaccines are administered and additional stimulus funds reach consumers’ hands, I believe that trend will only be amplified. Yes, there have been bankruptcies. But many of those organizations were already showing signs of weakness before the pandemic. Read more at Forbes.
