While retail sales in the last week of April didn’t decline, the first time since early March, recovery from the COVID-19 pandemic will be slow, according to The NPD Group.
“This may be the beginning of a promising pattern for retail, but there are still many hurdles to overcome,” said Marshal Cohen, NPD chief industry advisor, retail, in a press release. “The consumer’s buying behavior has been consistently changing over the past several weeks, and with much uncertainty still looming, it will continue to do so for the foreseeable future.”
A prime reason for the encouraging sales trend is the fact states are undoing lockdowns that kept consumers housebound.
“We will likely still see many ups and downs along the road to retail recovery as consumers enter the various phases of realizing a new normal,” said Cohen. “As the consumer’s lifestyle goes through this transformation, retail needs to hone in on opportunities to address those changes in order to achieve sustainable long-term growth.”
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