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What awaits global retail this year?

2020 was a year that changed the global market for retail and many other industries. Consumers changed their consumption habits, at the same time that hundreds of businesses closed permanently and a few registered a record in their profits. According to Euromonitor International, a global market research company, the retail industry suffered a 3.5% drop in sales.

A year after the start of confinement due to Covid-19, and with the arrival of the first vaccines in many countries, the end of the pandemic and the beginning of the economic recovery begins to be seen in various parts of the world. At the end of 2020, China was the first of the world’s major economies to see signs of a recovery; registering sales numbers that exceeded those registered before the Covid-19 pandemic. For its part, Germany achieved a recovery rate of 95.9, an advance that has been driven mainly by its exports.

Meanwhile, in the United States, a recovery rate of 95 was achieved at the end of the year. In this country, retail sales during the Christmas season reached $ 789.4 billion dollars, which represents 8.3% more than in 2019.

According to the Global Port Tracker report carried out by the National Retail Federation and Hackett Associates, this year in the USA. new import records will be set, reflecting retailers’ high expectations of consumer demand.

“Regardless of whether it is in physical stores or online, the record in the holiday season and the overall numbers for 2020 show that consumers are buying again. This increase has been constant for months, so retailers are importing merchandise faster than ever, ”said Jonathan Gold, vice president of Supply Chain and Customs Policy at the National Retail Federation.

Although there are encouraging numbers in many countries, the health crisis continues around the world, so the economic recovery and consumer activity in the rest of the world will likely remain below 2019 levels. For this reason, it is important for companies to consider all possible scenarios within their strategy, as well as to look for new opportunities in different markets.

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