Not only has it grown steadily, it has created generations of loyal consumers. During the 2008 financial disaster, spending in the business solely fell slightly and fully bounced again by 2010 . This article examines the likely effects of COVID-19 on the wonder trade over the next three to six months. Then it explores how the crisis could fundamentally change the industry in the long term—and how retailers, strategic players, and buyers can adapt. In many circumstances, it attracts from the results of a McKinsey Global Consumer Sentiment Surveythat took place in early April.

There can also be potential for closer collaboration—among brands and retailers, in particular—through knowledge sharing and stock pooling. China shows the return to in-store shopping could possibly be sluggish and differentiated. Despite store reopenings in China starting the week of March thirteen and reviews of “revenge spending,” sales have not fully bounced back.

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