As more and more of the U.S. adult population becomes vaccinated against COVID-19, the economy is moving toward a full reopening and retailers will attempt to take advantage of consumers who are flush with cash and ready to spend.
“Bricks-and-mortar retailers will use in-store experiences, new conveniences and some discounts to lure in customers,” said James Cook, JLL’s director of Retail Research. “It will depend on the store and the customer segment as to which tactic they will use. Mass merchants and grocers will want to keep the marketshare they gained during the pandemic, so they’ll be focused on value and convenience. Apparel retailers, eat-in restaurants, and entertainment venues will be using traditional advertising, social media and other marketing techniques to remind customers of the fun and experience waiting for them outside of the home. Furthermore, most have announced new menus and new product lines to pique the interest of would-be shoppers.”