The coronavirus pandemic has impacted nearly every aspect of our lives.
That includes our shopping habits.
With many stores closed, many are turning to Amazon or delivery services for any essential needs.
That’s leaving retailers, both small and large, struggling.
“It’s a once in a generation kind of effect on retail,” Hart Posen, Professor of Management and Human Resources at UW-Madison tells WTMJ. “And I think it’s going to lead to substantial changes after it’s over.”
Those changes could include closures of some major retailers.
“This will accelerate the demise of some of those retailers that were failing already. Sears, Kmart, JCPenney, they’re going to go away much faster than they would have. The good news is that that will leave more room for some of those intermediate players, like Kohl’s, to strengthen.”
For the full interview with Posen on Wisconsin’s Morning News, click in the player above.