The COVID-19 outbreak is testing the U.S. retail sector like never before. Reeling from government-mandated shutdowns and social distancing rules, major retailers have furloughed millions of employees and some have sought bankruptcy protection. But at the same time, consumers have flocked online, benefitting some e-commerce-savvy retailers while forcing all others to scramble to catch up.
A new KPMG report, Retail after COVID-19: A challenging new reality, analyzes the rapidly shifting landscape of the retail sector and provides insights into what it will take for companies to prosper in the unfolding new reality. We closely examine both in-store and online shopping trends by types of retailers and discuss the strategic importance of careful scenario planning and agile execution. To ensure future success, retailers have no time to waste. They must take bold steps now.