Retail News

Columnist: Pandemic’s ‘shock to the system’ brought needed change to retail

Bloomberg 12/21/2021

It is Bloomberg editor Matthew Townsend’s contention that the hardships brought on by COVID-19 and subsequent variants triggered a healthy shakeout of the retail industry and adoption of much needed technology, bringing “overdue changes that will fortify the sector for years to come.” He goes on to say, “For all the human misery the coronavirus has brought, it’s not hard to make the case that the pandemic will ultimately strengthen the global retailers who made it through. It’s a startling turnaround from the doom-and-gloom predictions for the industry in mid-2020.”

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