Consumers are massively changing their shopping patterns and preferences. According to McKinsey, 40 percent of U.S. buyers said they had switched to other brands or retailers for the past few months. The first two reasons they provided were lower prices and a better price/value ratio. A logical and the easiest step to take here would…
Andrew Mulvenna
Studies show that COVID-19 has changed buying habits permanently. Shoppers are more likely to purchase from local brands, prefer contactless payments, and choose online shopping over going to a physical store for a wider range of categories than before. As proof, global retail website traffic in March amounted to 14.3 billion visits, with Amazon.com being…
In the coronavirus vs. retail fight, the score so far is one to zero. Many retailers, like Macy’s and Gap, have been forced to close their stores, put tons of thousands of employees on leave, and cut their budgets to survive. These actions are just like how our bodies restrict blood flow to limbs in…
