The pandemic continues to make immense changes in the entire retail industry. Everything from how businesses market themselves, to how and where consumers primarily get their products.
Online retail, already rising pre-pandemic, emerged as the biggest powerhouse in the industry and dominates as the main channel to promote, view, and purchase. Traditional retail, such as brick-and-mortar stores, continue to remain an essential part of retail (albeit with a smaller footprint than before) especially as we adjust ourselves to living with the pandemic in a more long-term mindset.
As a business, it’s important to get ahead of these trends not only to remain relevant to your target audience, but to breach new markets to aid in business expansion over time.