Playbook: Future of the store. Putting stores back to work in today’s omnichannel retail
The role of stores in the ecommerce boom
The ecommerce boom has been bittersweet for the retail industry overall. As online sales have surged, physical stores around the world have been forced to close their doors. According to PwC, 48 stores closed each day in the UK during 2020. Investment firm UBS predicts 80,000 stores in the US will closeover the next five years.
As the world inches closer to a post-COVID future, the question on everyone’s lips is: will footfall climb? Consumers will always want to shop in-store. And yet, a large portion of ecommerce growth is expected to stay. According to our own research, 86% will continue shopping more online after COVID-19 than before. And 42% plan to make fewer trips to stores. Even as lockdowns begin to lift, many remain wary: 47% have concerns about their health and safety, and 31% are put off by extra time spent waiting in line.
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