With recovery from the pandemic on an uncertain timeline, consumer faith in physical retail in the US hasn’t yet rebounded. E-commerce shopping has been on the rise, and Morgan Stanley estimates it will make up more than 23% of US retail sales in 2020 Meanwhile, retailers including J. Crew, JCPenney, and Neiman Marcus have filed for bankruptcy. But while the retail landscape is shifting quickly, it still has a future: another way to look at it is that the industry is in a transformative stage to better anticipate and meet consumer needs amid new shopping behaviors.
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