Prior to the arrival of COVID-19, retail stores were already having to cope with the demands of a burgeoning e-commerce market. As they brace for a second wave of the pandemic — or the next disruption of any kind — retailers are seeking new ways to utilize brick-and-mortar locations to meet changing customer demands.

Following a record number of more than 9,300 store shutdowns in 2019, 2020 brought even more destruction to retail stores, hitting a new record high of closures just halfway through the year. In addition to suffering bankruptcies, many stores were forced to temporarily close their doors as the number of coronavirus cases continued to rise.

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Tompkins International Staff
Tompkins International Staff