Consumer psychology is primed to make Valentine’s Day an even bigger retail event this year than last year, when sales hit an estimated $27.4 billion, representing a 20% year-over-year increase from 2019.
As we kick off 2021, with the pandemic still unfortunately a top-of-mind concern, retailers continue to face increased pressures and competition, particularly given the significant uptick in online shopping.
Amazon’s decision to hand Andy Jassy, head of the Amazon Web Services' (AWS) cloud computing business, the job of replacing Jeff Bezos as Amazon’s chief executive completes Amazon’s shift from being a retailer to a technology company.
As e-commerce has accelerated, so had the demand for warehouse space. According to a report from CBRE, nearly 14 million square feet of big-box retail space in the U.S. has been converted to industrial space.
Under the pandemic’s ongoing public health and economic impact, retailers are being challenged to do everything possible to lower the risk of COVID-19 transmission in their indoor shopping areas and work environments.
Confounding dour predictions of soggy holiday sales — and defying COVID headwinds — America’s resilient shoppers drove the November-December holiday period to a record-breaking $768 billion in sales, a remarkable 8.6% leap from last year’s $707 billion.