Forrester: Retail Will See A $2.1 Trillion Loss Globally In 2020 Due To Coronavirus Pandemic
Forrester Research, Inc. (FORR)
Last forrester research, inc. earnings: 2/13 04:05 pm
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Source: PR Newswire
CAMBRIDGE, Mass., April 30, 2020 /PRNewswire/ -- Forrester today predicts that due to Coronavirus, global retail sales in 2020 will decline by an average of 9.6 percent globally, a loss of $2.1 trillion. Forrester also predicts that it will take four years for retailers to overtake pre-pandemic levels. According to Forrester's updated retail forecasts across North America, Asia, Europe, and Latin America, the impact of Coronavirus on retail sales will vary worldwide given the regional differences and considering that each country is at a different stage of the pandemic. Key findings include:GlobalNon-grocery offline sales will see a 20 percent growth contraction in 2020, and sales could decline by as much as $2.3 trillion globally. Retailers will continue to face growth constraints with many brick and mortar retailers predicting losses in 2020 and assuming that their growth in online sales will not be enough to offset the lost sales from store closures.North AmericaIn the U.S., retail
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