2020 was an unprecedented year for the retail industry. Prior to the pandemic, retailers were already struggling with rising e-commerce sales, bankruptcies and store closures, which were only further compounded when COVID-19 hit. Experts credit the virus with accelerating e-commerce growth by five years, with this shift in shopping behavior expected to remain even after the pandemic subsides.
While the effects of COVID-19 had varying impacts on the industry, no retailers were completely immune from the ramifications. From inventory and labor shortages to delivery delays, retailers faced various obstacles at every step of the supply chain.