Retail Store Lidl reveals expansion plans for 2021 in the US
Working from home and avoiding nonessential travel are some of the precautions being taken to prevent the spread of coronavirus (COVID-19). As such, it is to be expected that gasoline stations are experiencing a decrease in sales. It is projected that revenue from travel and tourism will fall compared to 2019, with airlines, cruise lines, and rental cars already encountering a drop in year-over-year travel sales.
The economic impacts of COVID-19?
Influencing more than just the travel and transportation industries, the coronavirus (COVID-19) is forecast to have many social and economic impacts. Many people would be less likely to go to social spaces and events if the virus were to spread to their community. Most people expect the stock market drop that resulted from the onset of the COVID-19 pandemic to have a lasting impact on the U.S. economy, and a growing percentage of people fear the outbreak will personally impact them financially
The pandemic has accelerated the shift to e-commerce — or “from bricks to clicks” — by about five years, according to data from IBM’s U.S. Retail Index. The numbers show department store sales plunged 75% in the second quarter, though that’s expected to improve slightly for the year to a 60% drop. Meantime, e-commerce is projected to grow by nearly 20% in 2020, and Target, Walmart and Amazon have already capitalized on the shift. The numbers also show a shift in spending priorities, with clothing diminishing while groceries, alcohol and home improvement spending increase.