Will vaccine approval save retail from an uncertain future?

Will vaccine approval save retail from an uncertain future?

There is speculation in the US that the FDA may soon allow authorizations for COVID-19 vaccine development to be fast tracked (footwearnews.com). A working vaccine would mean peace-of-mind for US citizens, and peace-of-mind means more venturing out in public to shop. 

We’re already seeing data on Insights indicating that e-commerce growth is dropping. The drop-off could mean a slight uptick in in-store shopping, likely due to the slow but steady easing of social distancing and stay-at-home orders throughout the nation. Yet the threat of the coronavirus still looms, as case numbers continue to fluctuate in different states. 

If consumers had the confidence to shop without fear of COVID-19, in the form of a proven vaccine, we would likely see a huge boost in in-store retail sales, particularly with Black Friday and the holiday season around the corner. 

Stay tuned to Insights for more updates.

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