6/1/2023 0 Comments Retail store threatsAs lockdowns became the new normal, consumers and retailers started going ‘digital’. The overall consumer behavior has radically shifted, with people becoming cautious about how they are spending their money. It is safe to state that the world has changed. The coronavirus has been a significant part of our lives for the last couple of years. In this article, we take a look at the key risks that may be faced by retail businesses in 2021 but also through the next decade. ![]() While the pandemic has shed light on the resilience of the retail industry, there are still looming risks for the next decade. ![]() This situation has forced retailers worldwide to adapt to a slew of new consumer demands while juggling a precarious supply chain. Lately, the retail sector was shaken by the COVID-19 pandemic. ![]() On the other hand, when a recession is imminent, consumers and their wallets generally stay put and are more conservative. When the economy is growing, consumers flock to stores. The retail industry is widely accepted as one of the leading economic indicators.
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