USA in the challenge of the pandemic
COVID-19 has changed nearly every aspect of the retail industry. Retailers had to face store closures, supply chain disruptions and personnel changes. A difficult challenge: as we know that retailers will continue to feel the pandemic’s impacts for several sales quarters to come. This is not the first time for retail industry to face disruption, and COVID-19 has largely accelerated existing trends that were already unsettling to traditional retailers. The rise of e-commerce and the decline of personal, direct shopping, necessarily tightens purse strings due to recession concerns and pushes towards digital transformation. According to eMarketer, the forecasts are that total retail sales are estimated to decrease by 10.5% in 2020. Nevertheless, to heighten consumer spending on essential products is not enough to offset dampened spending on luxury items, apparel and other non-essential goods.