Global retail stares at $2.1 trillion loss, to take 4 years to revive
"COVID 19 is significantly impacting the global retail landscape. Retail categories like grocery and essential consumables are performing well, while other categories like fashion, beauty, and cosmetics are seeing a marked decline in consumer spend," said Michael O`Grady, principal forecast analyst at Forrester.
With the COVID-10 pandemic ravaging several industries amid poor consumer spending, global retail sales in 2020 will decline by an average of 9.6 per cent, Photo: Reuters