The retail and hospitality industries were among the hardest hit during the 2020 COVID-19 pandemic. Over 8 million jobs were lost in retail and hospitality in April 2020 alone, and it is projected that over $52 billion was lost in sales at restaurants in the second quarter of 2020.
The effects of the pandemic will extend not only into the remainder of 2020 but into 2021 as well. However, as retail stores and restaurants begin to re-open, early signs have positive that consumers are eager to shop and eat out.
One thing is for sure. Operations have changed forever. Retailers and restaurateurs must adapt in order to stay in business. In this blog series, industry operators and experts share about strategies they recommend for retail and hospitality to rebound.