Retail Changes Accelerating With COVID-19: Redpoint Global

Sixty-two percent of consumers plan to shop exclusively online this year, said Redpoint Global Tuesday. Half expect to spend the same as last year; 27% will cut back. Half plan to use buy online, pick up in store. Due to the pandemic, "much about retail has changed," the firm said: "Many of the digital trends that had been transforming the industry were accelerated, as was the demise of many classic retail brands. ... While the retail challenges are not new, the impacts during COVID-19 ran much deeper."