Recent study says U.S. retail sales could fall 6.5% in 2020
Retailers across the country, big and small, have been forced to shut down in the wake of the coronavirus outbreak. One study predicts that in 2020 sales in the retail industry will drop by roughly 6.5%.
The study did mention that several factors can alter that forecast, including government response, consumer comfort in returning to in-store shopping, the ability for retailers to accommodate to changing consumer demands, and so on.
Additionally, not all retailers will suffer the same consequences. Grocery stores and eCommerce businesses will have an easier time than department stores, for instance.