One of the legacies of the 2020 pandemic and the resulting lockdowns is the long list of retailers who’ve filed for bankruptcy. In the United States, the list of causalities includes Lord & Taylor, Neiman Marcus, Pier One, Brooks Brothers, Sur La Table, Guitar Center, and Stein Mart. During this same period, as consumers have increased their reliance on online shopping, Amazon’s share price has risen from $1,900 to $3,160. Will the end of the pandemic bring a surge of business to retailers? Will online grocery shopping become the norm? Can anything slow Amazon’s path to world domination?
What Did 2020 Do to Retail?
Covid will have a long-lasting impact on the industry.
December 28, 2020
KKGAS/Stocksy
Summary.
Driven partly by the pandemic, dozens of retailers filed for bankruptcy in 2020. As the year comes to a close, HBR spoke with Marc-Andre Kamel, a partner who heads the global retail practice at Bain & Co., about what retailing trends he sees emerging in 2021.
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