Deep Dive 21 minutes PremiumSix Ways Covid-19 Will Continue To Impact US Retailers and Consumers Coresight Research December 8, 2020 What's InsideCoronavirus vaccines are now in production, and there are indications that the US economy is on the road to recovery from the global pandemic. In this report, we analyze six ways in which pandemic-driven changes to the economy, retail and consumer behavior will impact the US retail industry moving forward. These include repercussions from unemployment rates on spending power (which vary across consumer income groups), the effects of changed business operations, such as work-from-home practices and reduced travel, and how a vaccine will influence the outlook for the service industry. We discuss the implications of these impacts for retailers. Click here to view additional coverage of the impact of Covid-19 on retail, which includes Coresight Research’s proprietary US consumer survey findings. CONTENTS What’s the Story? Why It Matters Six Ways Covid-19 Will Continue To Impact US Retailers and Consumers: A Deep Dive The Unemployment Rate Is Moving in the Right Direction, but Recovery May Slow in the Short Term Lower-Income Consumers Will Have Their Spending Constricted in the Short Term Higher Earners May Spend More Freely Birth Rates Will Drop Significantly, Impacting Childcare and Education Spending in the Long Term The Surge in Homebuying Will Drive Retail Sales but Should Wane in the Medium Term A Vaccine Will Prompt a Switch Back to Services in the Medium and Long Term What We Think Implications for Brands/Retailers Implications for Real Estate Firms This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: India Retail Insights: Key Takeaways for Retail from Union Budget 2023China Consumer Tracker: Renewed Spending Caution—Plus 2023 Travel PlansSeasonal Shopping, 1Q24—Expectations for Valentine’s Day, Easter and Presidents’ Day: US Consumer Survey Insights ExtraUS Store Tracker Extra, May 2023: Aldi Openings Drive Total New Retail Space to 73 Million Square Feet