Images Retail - December 2020

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As we get set to welcome 2021, it is time to acknowledge 2020 for being a very revolutionary year in terms of retail globally. COVID-19 threw the Retail & Shopping Centre industries globally for a loop for almost the entire year. Lakhs of people lost their jobs around the world and a number of businesses remained shut for almost half the year, some even more than that. Such was the impact of the pandemic that many businesses shut down permanently. Lockdown, Unlocking, Social Distancing, Technology, Adaptation, E-Commerce, essential services were some of the keywords of 2020, the highlights of the year in retail in a manner of speaking.
As the decade comes to an end, 2020, with its unprecedented challenge, has unexpectedly contributed to the growth of retail. Despite the pandemic, the year turned out to be a big opportunity for retailers, forcing them to adopt technology and go Omnichannel, something which many players were still just thinking of.Even small retailers – whohad no choice but to look to innovation to help them navigate the crisis – adapted. New trends, experiential, innovation and multichannel retail continued to shine and change the rules of the game successfully.