Soured quickly
Retail started 2020 full of optimism with the first two months booming for most businesses. No one anticipated the Black Swan of the pandemic. Looking at the year now, the most noteworthy development has been the explosion of ecommerce of all types.
Worldwide growth is estimated in 2020 to be around 16 per cent. This is actually 2 per cent lower than their projected growth of 18.4 per cent. However, the growth of eretailing looks more dramatic when contrasted with the serious reduction in physical retail, which according to emarketer, dropped 10 per cent from the positive projection of 4.4 per cent for the year.