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Retail in a post-COVID world: We need to go back to the way we were


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Editor s note: The following is a guest post from Howard Meitiner, Carl Marks Advisors managing director and former President and CEO of Sephora USA. He can be reached at [email protected].
Recently, U.K. department store Debenhams announced it was closing after 240 years in business. It s the latest in a long line of retailers including Lord & Taylor, Henri Bendel, Barney s and more to liquidate its assets in the past few years. While at first glance, some may blame COVID-19 and the toll it s taken on the retail world, in truth, the pandemic merely accelerated changes that were already happening. Even in the before times of 2019, shoppers had to be convinced to step foot in a brick-and-mortar store or have a very specific reason to do so. ....

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How Brick and Mortar Businesses Are Building Plans To Ease Shoppers Back Into Stores


Consumer behavior shifted in 2020. While many brands would have expected ecommerce to grow in popularity, no one could have imagined the necessity it would become during the pandemic. 
However, despite the uncertainty of when things will return to normal, a recent survey conducted by Allocadia indicates that 33% of consumers will do shopping online, 27% will do shopping in-store, and 40% say they will use both venues. 
So, despite Statista’s prediction that ecommerce sales will reach $407B in 2021, buyers aren’t expected to stop shopping in physical stores. 
Given this data, we spoke to experts to understand the measures store owners are taking to welcome shoppers back, the changes they’ve made in the meantime to cope with limited foot traffic, and what this will mean for the future of physical stores.   ....

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