Retail nosedived in 2020 thanks to the pandemic adding a final backbreaking straw. There were a few brights spot though. For Messika Paris, there were ten.
Fast fashion retailer Primark has said that store closures caused by European lockdowns will mean that it will have missed out on over $1.4 billion in revenues but stressed that it remains committed to its stores-only strategy and does not intend to sell online.
The confluence of health, social, political and environmental crises is causing consumers to rethink their priorities, and that includes what and how they eat. Retailers investing in these emerging shopping trends now will win more market share down the road.
Danielle Jaymes, general manager of Poway Weapons & Gear, sold a shipment of 192 Glock 19s in a week, she said, and 9mm ammunition is so popular that she rations purchases to 100 rounds per day.
In addition to focusing on new product categories, J.C. Penney's next CEO must fix the company's inventory accuracy problem. They must also be open to embracing Customer Based Corporate Valuation principles to guide future strategic decisions.
Retail saw its largest decline and fastest recovery in 2020. Yet the shape of the retail industry has fundamentally changed, with a huge shift to digital spending and dramatically less spending on apparel.