The coronavirus pandemic is likely to change how and what consumers buy, forcing the retail industry to quickly innovate in a race that's likely to squeeze smaller brands.
Retailers were already under pressure prior to the pandemic, struggling to adapt to a growing online world and facing lower margins amid a plethora of competitors.However, as lockdowns start to lift, many consumers in Europe have returned to stores, with some people happy to wait for hours before being allowed inside.coronavirus pandemic
"People like buying in store, even millennials and Gen Z who have all the apps on their phones, still like to shop in stores." Researchers define millennials as those born between 1980 and the mid-1990s, while "Gen Z" or Generation Z refers to those born between the mid-1990s and early 2010s. Though many European governments have now lifted some lockdown restrictions, challenges remain when it comes to vacations abroad, cultural events, and most people are still being encouraged to work from home.
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