Everyone had big plans for 2020. This was the year of high expectations, where retail companies were strategically set to execute turnaround plans, or were zeroing in on their target audiences, or were energized to open new store concepts.
Then COVID-19 happened.
The pandemic temporarily shut things down and turned even the most prolific designs into dust. While the industry was, for the most part, paused, shoppers also suddenly had different priorities that centered on volatile work, family and social situations.
Here are five of the biggest retail decisions that were victims of bad timing. During another year these plans may have come together and been wildly successful. Or, they still possibly could have run into trouble because the foundation that they were built upon was, in reality, never that sturdy.
The ripple effects of these thwarted plans will be felt for some time…Â Retail Dive