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Mar 26, 2021

34% of brands and retailers will grow their physical retail investments this year

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The pandemic was tough on physical retail. With month after month of physical stores closed and brands and retailers shifting much of their attention to the rapidly growing e-commerce business, it seemed inevitable that brands and retailers would pull away from their brick-and-mortar investments. Glossy and Modern Retail research shows that, indeed, many brands and retailers dropped out of physical retail during the pandemic. However, they’re already planning to reinvest in physical retail as the market opens back up over the next six months.

According to a Glossy and Modern Retail survey of 89 brand and retail executives, 27% said their company abandoned one or more retail leases and locations during the course of the pandemic. Overall, those dropped leases and stores were the result of a multitude of factors, including low foot traffic numbers in usually bustling regions like New York and California, a tightening of budgets across the industry, and e-commerce growing by 44% total across the U.S. in 2020.

https://www.glossy.co/fashion/glossy-research-34-of-brands-will-grow-their-physical-retail-investments-this-year/?utm_medium=email&utm_campaign=glossydis&utm_source=daily&utm_content=210325