Retailers are still reeling from the impact of COVID-19, which will have long-term effects on how people shop. A survey of 1,000-plus consumers that Standard conducted in November 2020 about their holiday shopping plans found that:
- 36 percent planned to shop less in physical stores than in 2019;
- Another 23 percent will shop exclusively online;
- 68 percent said COVID-19 was a factor in deciding how to shop.
On the plus side, 31 percent said they would be more likely to shop in physical stores in stores that offered a checkout-free experience. This option existed prior to March 2020 — but its adoption by retailers was greatly accelerated by the pandemic. Consumer preferences are changing rapidly.