Wells Fargo Sees Permanent Consumer Behavior Shifts From The Pandemic

Beauty and apparel sales are in for a rebound post-pandemic, according to research last week from Wells Fargo analysts led by Ike Boruchow and Tom Nikic. But retailers selling home goods and athleisure can rest easy knowing that demand for their goods won’t disappear, according to the survey of 1,000 U.S. consumers regarding their shopping plans for the second half of the year and beyond. The initial surge in e-commerce sales has tempered somewhat, but once the dust has settled, online penetration of retail sales are set to land 540 basis points above pre-pandemic levels, Wells Fargo predicts. Read more at Retail Dive.