It is hard to imagine a worse time for brick-and-mortar retail. Already challenged with diversifying against an e-Commerce alternative, stores have now lost their one remaining hook as shoppers are unable or unwilling to venture in. For many consumers, this desire may be slow to return as they remain fearful of exposure to the COVID-19 virus.
Certainly, retail performance has ticked up in recent months as economies reopened, but this comes off a low base and reflects a significant amount of online activity. What are local stores doing to stay viable? The answers were there pre-pandemic and are now on a rapid acceleration curve.
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