Retail had a surprisingly positive and strong year in 2020, despite the widespread disruption and uncertainty that came with the pandemic. Consumers shifted their spending from travel and services to products.
According to Forester data, the categories that performed the best last year were DVDs, toys, videos games, computers, home improvement products and books. All of these sectors experience significant growth from 2019 to 2020.
Over the past year, physical stores were a major player in e-commerce growth. Brick-and-mortar has a lasting relevance in retail. In fact, Forester estimates that “nearly three-fourths of all retail sales will take place offline.” And, “categories that require shopper touch and feel, need in-store advice, or are unplanned small-ticket-item purchases are more likely to be bought in-store.”
Today, retailers are making a clear effort to blend their physical and digital approach to create a seamless atmosphere for consumers. Retailers that offer the best of both worlds are poised to keep growing in 2021 and beyond.
Source: Retail Sales 2024 – Retail Dive
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