COVID-19 pandemic has drastically changed American spending habits. But, we didn’t quite realize just how vast it would alter shopping habits.
As brick-and-mortar retailers close their doors to combat the outbreak, online retailers are seeing a huge uptick in sales as many of us have little else to do these days.
But what does this new way of shopping for everything mean for the future of retail and businesses? Will movie theaters and fitness centers bounce back? Will clothing stores be able to stay afloat? What about restaurants and car dealerships? Can they withstand prolonged social distancing?
Fortunately, the future is bright for these shopping categories, according to a new report just released from FitSmallBusiness.com, the digital business platform. Editors discovered the silver lining: customers will benefit in both short and long-term as businesses begin to offer new discounts, impressive perks and a more catered approach to shopping needs.
The editorial staff compiled data from key data sources, including McKinsey & Co., MarketWatch, The U.S. Chamber of Commerce and more to assess COVID-19’s influence on the retail world. The digital publication’s research and analysis showed that while customers will have to adjust in the wake of the pandemic, they will also benefit from a variety of deals and savings both now and in the future.
The report—The 5 Ways COVID-19 is Transforming the Shopping Experience—discusses how customers will benefit in:
- Making car purchases easier
- Getting into gear with at-home fitness
- Amazing home entertainment offerings
- Enjoy the variety of takeout
- Online shopping deals
You can find the full report here.
“The pandemic is a nightmare for many retailers yet also presents a variety of options for consumers,” said Rebecca Michael, special projects editor, FitSmallBusiness. “As Americans change their shopping habits in the present day, our study shows that businesses of all kinds will evolve in stride to meet the demands of their customers.”