Jul 24, 2020
Retail sales jumped 7.5% last month giving stores and restaurants a much needed boost. Although the increase came before the latest surge in coronavirus cases which prompted renewed shutdowns in several states.
"There is no doubt about it - this is a complicated and quickly evolving retail environment and only the most nimble will survive, says Retail Expert and president of Naples-based Business Management Firm 'Third Eye Management' Karl Gibbons.
Retail sales crashed in the spring as people stopped going out to eat and shop — especially for clothes — during the pandemic. But now things have changed for the better (see stats below). "This is a good sign, and as I see, it also is an opportunity to learn," says Gibbons.
So what can we expert this month and next? And what will retail businesses large and small need to do to get the momentum going?