Smart Cities

Smart Retail Revolution: Extended Lockdown is Changing Buying Patterns Forever

The outbreak of the novel coronavirus, and the lifesaving measures taken around the world, will trigger one of the most disruptive periods our global economic system has ever seen. We were already due a downturn, but the pandemic and months of lockdown around the world have probably turned that downturn into a deep recession, significantly reshaping almost every region and business sector. Some industries will feel the disruption more than others, however, and few will experience such monumental change as brick-and-mortar retail. In major markets around the world, non-essential retail outlets have closed for a period of several weeks to several months. The viral nature of the crisis means that health concerns will continue to reduce foot-traffic in retail spaces long after lockdowns are lifted, further deepening the losses for non-essential brick-and-mortar retail businesses. With everyone at home and most restaurants closed, supermarket sales are booming and the gradual trend towards online shopping has been […]

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