Is there a second wave of store closures on the horizon?

Is there a second wave of store closures on the horizon?

Apple just announced they will close nearly all remaining retail locations in Florida due to recent spikes of COVID-19 cases throughout the state. The large global retailer was ahead of the curve on store closings during the initial wave of the coronavirus. Are they the canary in the coal mine signaling a second wave of store closures?

If so, retailers who have already positioned themselves to be omnichannel may fare better during this second round. Customers are already used to shopping online, having readily embraced digital channels when stores were closed throughout March and April (as noted by the spike in orders for online retail). 

If the US faces another round of national lockdowns, this may thwart some of US retail’s recovery strategies. But it may also bring about another surge in online retail and e-commerce. 

Keep an eye on online shopping throughout the remainder of the summer.  

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