Change, rather than tolling the death knell for the sector, is exactly what will keep retail alive and vibrant.
It seems that the retail sector can’t catch a break. It was just a few years ago that people—otherwise in the know—were predicting the fall of brick-and-mortar at the hands (or should I say fingers?) of internet shopping.
Now, as we at last begin to emerge from the pandemic, the rumors seem to be flying again. This time the negative buzz points to the reluctance of anyone to shop in confined spaces.
In fact, as we all know by now, the retailers that trafficked in essential goods, such as the pharmacies and the home-goods stores, held their own throughout the depths of the crisis. Speaking in the broadest of terms, it was the non-essential purveyors, the “Want” stores, as opposed to the “Need” stores, that felt the pinch the most, often to the point of closing their doors.