Covid-19 Impact on Retailing

Abstract

In early 2019, retailers had reason to be optimistic. Unemployment was low and while many retailers closed branches, overall, retailing rose. The hospitality and travel industries were at their highest revenue levels in more than 16 years and consumer spending was at a high. Traditional retail formats were no longer working as Omni channel retailing took hold. Very few could have predicted that retail employees would become essential workers as a pandemic hit the world. The retailing industry took a major hit and experts are unsure about a total recovery. In this paper we examine the impact of COVID-19 on retail environments and what the future of retailing may hold.