How is retailing changing?

Constant connectivity, contextual relevance, and a multi-screen world are changing both online and offline shopping. As the digital and in-store experiences blur, it is opening up exciting new possibilities for forward-thinking retailers. Consumers no longer see a distinction between online and offline shopping.

What’s trending in retail?

Retail Trend #3: Online Stores in Offline Spaces And while the COVID-19 pandemic has undoubtedly slowed the openings of new brick-and-mortar stores, we’re still seeing offline experiences from previously online-only brands. Take the opening of the first brick-and-mortar Amazon Fresh Grocery Store, for example.

How is retail changing in 2021?

Retailers are taking on larger players by moving online Today, shoppers make 43\% of their monthly retail purchases online, and retailers are meeting those needs, with 88\% now selling online. As many retailers are changing their business models, going online increases the odds of success.

Is the retail industry dying?

More than 12,200 major retail chain store locations permanently closed in 2020 alone, translating to 159 million square feet of emptied retail space. By April 2021, the number of open small businesses decreased by 33.6 percent compared to January 2020.

Is retail expected to grow?

As we emerge from the global pandemic, retail is growing at levels not seen in over 15 years. Retail sales grew an estimated 6.7\% in 2020, well above the five-year average of 4.4\%. NRF forecasts that sales will grow between 10.5\% and 13.5\% to more than $4.44 trillion in 2021.

Will shopping malls become obsolete?

A third of America’s malls are going to shut permanently by 2021, according to one former department store executive, as their demise is accelerated due to the coronavirus pandemic. There are still about 1,000 malls operating in the U.S. today, according to commercial real estate services firm Green Street Advisors.