Department Stores and off-price retailers are the most optimistic about recovering store traffic in the wake of the Coronavirus pandemic, with 44% expecting a return to normal within two months and another 50% expecting that time frame to be two to six months, according to McKinsey data.
Beauty retailers are split by thirds, with 30% saying they’ll return to pre-COVID 19 traffic within two months, 30% within two months to half a year, and 30% within six months to a year.
As I discussed in a post about companies communicating their re-opening plans, consumer acceptance of returning to stores depends entirely upon the nature of the business, the perceived safety of returning versus the need that business fulfills, and the clarity with which the company in question communicates and demonstrates their commitment to customer safety.
During this Behind The Numbers podcast episode, eMarketer principal analyst Andrew Lipsman, research analyst Daniel Keyes and senior forecasting analyst at Insider Intelligence Cindy Liu discuss what it will take to encourage Americans to return to stores, the end for the mall and what will happen to brick-and-mortar sales this year.
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