Retail and COVID-19: How to Adapt to Changing Consumer Behavior?
By: Anand Kannan

30th Sep, 2020
The recent coronavirus outbreak has had a profound impact on the retail and e-commerce sector. While some industry sectors find themselves overwhelmed with orders, others struggle to get customers to buy their products.
The pandemic has forced people worldwide to alter the way they work, shop, eat, and spend their leisure time and has changed buying behavior drastically.
With footfall at physical and mortar stores falling and an added responsibility of ensuring customers’ safety has stretched retailers thin. The trend is visible as retail sales have dipped by 5.7% compared to 2019.
With an end to the pandemic not visible shortly, retailers need to understand the changing consumer preferences and alter their business continuity plans accordingly.