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 Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Retail 2024: Five Forces and Five Trends Shaping UK RetailJanuary 2024 US Retail Sales: Growth Moderates; Health Stores and Nonstore Retailers Continue To Show Solid GrowthConsumers’ Appetite For Luxury in a Post-Zero-Covid ChinaResearch Preview: Retail-Tech Landscape—Generative AI Infrastructure