It’s no secret how COVID-19 impacted retail. At the height of the pandemic, shelter in place orders led to an abrupt halt to in-person shopping while digital sales soared. Many retailers shuttered stores and, at the time, it was uncertain if or when full recovery was possible.
Recent reports are putting some of those speculations to rest.
Physical stores remain crucial and data suggests they’re needed to drive digital sales. Per an ICSC report, opening a retail location temporarily increases a brand’s digital sales by 6.9%, whereas closing decreases its online sales by 11.5%.
