The corona pandemic has struck a hard blow to the retail industry. Social distancing means fewer customers passing through brick and mortar stores, and people overall are not eager to spend money during a crisis. 

“Shopping behavior and demand has changed fairly radically. These changes are due to the consumer psyche and something we’ve seen during previous pandemics, natural disasters and other tumultuous events,” says Jonas Colliander, Assistant Professor at the Center for Retailing. “Customers feel more anxiety, uncertainty, and an increasing loss of control and that in turn fuels a reduction in purchases other than the essentials.”

Read the full article: https://www.hhs.se/en/about-us/news/2020/how-corona-is-changing-the-retail-industry/