Consumer Shopping Habits Have Changed For Good
The pandemic itself, along with how we are emerging from it, is reshaping the economy, government and business in lasting ways. A lot of this reshaping is fueled by changing consumer shopping habits. The pandemic pushed nearly all consumers to utilize, if not rely on, ecommerce—and it pushed retailers to adapt according. And while ecommerce will continue to be a shopping staple, the in-person shopping experience is far from dead.
The in-person shopping experience is going to look different moving forward. While many department stores filed for bankruptcy during the pandemic, many big-box and off-price retailers thrived and will likely continue to do so. Big-box retailers allow consumers to consolidate their shopping efforts, a one and done type of store, while off-price retailers cater to consumers that adopted more discount savvy and price conscious shopping habits. Not only are these retailers outperforming others, but many have plans to open several additional locations within the year. (Wall Street Journal, 06.25.21)
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