filing for bankruptcy or liquidation. More store closures are expected in the new year, according to CoreSight Research, which estimated 10,000 closures in 2021.
Amid the continued economic downturn caused by the pandemic, companies are looking to secure outside capital, and about a third of them want to use the influx of cash to drive a turnaround strategy, according to the report. E-commerce, social commerce, and mobile commerce topped the list for where companies would allocate their increased investments.
People like his elderly mom, he said, are likely never going to back to doing grocery shopping, except to perhaps get the perishables. And for busy parents who don't want to drag their kids around the store, online shopping has become the easier route.