Bloomberg has a piece assessing the positive impact that the Covid-19 pandemic had on the retail business. An excerpt:
"When Covid-19 erupted 21 months ago and upended retailers around the world, it looked like just another chapter in the sad story of an industry’s decline.
"The reality of the pandemic era, however, hasn’t played out that way.
"Yes, there was a shakeout with thousands of stores, and some chains, closing for good. A wave of retail workers lost their jobs, some permanently, and an unknown number got sick. But Covid’s shock to the system also brought overdue changes that will fortify the sector for years to come, including big investments in technology, the creation of new methods to connect with consumers and speeding online delivery.
"For all the human misery the coronavirus has brought, it’s not hard to make the case that the pandemic will ultimately strengthen the global retailers who made it through. It’s a startling turnaround from the doom-and-gloom predictions for the industry in mid-2020."
You can read the entire story here.