The coronavirus pandemic has unleashed a new era of change for retailers across the board. Supply chains encountered widespread disruptions, digital channels have radically accelerated and a shift in consumer demand has led to the adoption of new technologies.
As we usher in the next year, a number of influencers — from C-suite executives to investors and analysts — are sharing their predictions for the retail industry, from current trends to long-term implications. Here, FN presents four key insights from some of the sector’s top thought leaders and members of Berns Communications Group’s Retail Influencer Network.
Dressing up will make a comeback.
In 2020, active and casual wear emerged as the work-from-home attire of choice. However, experts predict that the future of workwear will not be defined by lightweight leggings and shearling slippers.
According to First Insight CEO Greg Petro, employees will still prefer to work remotely amid the health crisis, but they’ll likely want to dress up and go back to the office on occasion.
What’s more, the continued rollout of COVID-19 vaccines has led to optimism of a return to some type of normalcy. As a result, Threadstone Advisors managing director William Susman predicted a boost in the sales of dress apparel as spending shifts away from categories like home goods and outdoor accessories to activities like parties and get-togethers or traveling.