Raydiant report shows how physical US retailers are planning to reopen

As a result of the coronavirus outbreak, 29% of US retailers plan to close their physical locations to go online only, while 14% intend to downsize, according to research from Raydiant.

The company surveyed 400 American bricks and mortar operators and also found that, during the pandemic, 21% of them began deploying curbside pickup services, and 31% started offering delivery. Most who added these services intend to keep them.

41% said creating better experiences would be their top priority upon reopening. 85% of this survey group believed in-store experiences would be important to their reopening success.

43% claimed they could have survived the coronavirus without expanding into e-commerce, but 26% stated the move saved their businesses and 29% weren’t sure whether they would have made it on their own.

Also, with new customer expectations developing, 58% of respondents are considering investments in new tech and tools for their return to action. “Retailers have battled in a competitive industry since the moment they opened their doors. The coronavirus pandemic may have presented unique challenges, but retail shops are no strangers to adversity,” Raydiant says.

“Our study should prove to any doubters that the retail world will not die out because of the virus but will instead adapt to circumstances as necessary. Thanks to the tenacity of the people working behind the scenes, the future of retail continues to look bright.”

Further details here.