The grocery sector experienced a fundamental shift during the pandemic, and while the changes were generally good for most brands, others were very poorly positioned. And these differences largely centered around critical changes in consumer behavior that elevated certain brands because of distinct characteristics.
The home improvement and home goods sectors have been among the strongest in retail throughout the pandemic. When COVID initially hit, home improvement leaders like Home Depot and Lowe’s benefitted from essential retail status allowing consumers to embark on DIY projects with their newfound time at home.
Unsurprisingly, malls were hit especially hard by COVID with visits declining dramatically in the spring before beginning a slow comeback to normalcy in May and June. Yet, there are real reasons to believe that the sector could see a strong revival in 2021.
