How covid-19 changed the way we shop

Covid19 pandemic changed the way we shop and left long lasting effect on retail industry. During the lockdown period demand for clothing, shoes, accessories drastically changed. As people stayed at home they did not need so much shopping (shopping places also was closed as well as home delivery). Let’s take a look on impact on retail industry.

According to reports 5-10% of pre-covid19 demand could be lost per forever. And it may take as long as 9 months to reach “new normal” demand levels. Customers had enough time to reevaluate their spendings and most of them will cut back of apparel demand.

40% of people say it will take up to three months after the end of living in a lockdown to go back to stores to shop for apparel. Nearly 20% of people say it will take more than three months. About 11% of people say they will not go back to a clothing or shoe store until there is a vaccine or cure for the virus. 

Wells Fargo’s survey.

Customers worldwide get used to online shopping as a way to get what they want without a fear of going into physical shop. This trend will be only growing as cure from covid19 not yet found

Thanks, please subscribe to my blog.

Advertisements

About my-financial-wealth.com

Trader, blogger, traveler

Leave a Reply