As countries around the world face prolonged lockdown to prevent the further spread of COVID-19, retailers are among the hardest hit
"Many have closed all their brick-and-mortar stores, resulting in furloughing of many employees.
The U.S. Census Bureau reported that retail sales during March 2020 were down 8.7%, the biggest monthly drop ever recorded since the Great Recession. Of the hardest-hit categories, clothing store sales were down 50.5% from February, furniture store sales were down 26.8% and luxury goods are expected to fall 31%.
Before COVID-19, physical retail was already decimated by e-commerce behemoths like Amazon, but now the sector's fate seems sealed by the ever-increasing threat of the pandemic. A so-called retail apocalypse may seem inevitable, but in these challenging times, it is more important than ever to look at how technology can turn the tide..."
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