As the coronavirus introduced new challenges for people around the globe, consumer spending habits drastically changed and retailers rushed to adapt. Demand for groceries and food delivery spiked, while spending on clothing, beauty, entertainment, and toys took a significant hit.
While many retailers found that their websites were their only storefronts, those businesses considered essential faced a unique set of challenges. Sharp and unexpected increases in sales for items like hand sanitizer or flour, combined with disruptions in the supply chain, led to product inventory shortages. Safety and social distancing protocols, including store closings and changes to hours of business operation, had to be put in place and communicated to customers. Read more…
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