what are some things we can all do to help move past what Chen calls “structural challenges” to speed the vaccine process and return to normalcy?
Answers
future usually arrives in an orderly fashion. But for consumer goods and retail, a year like no other meant that the future showed up early, and in an ugly mood. In March 2020, COVID-19 shut down retail locations across the world, forcing consumers to change their buying behaviors, and as a consequence, these two sectors may never be the same again.
Two new reports look at the changes wrought by COVID-19 in the United States and assess their long-term effects. In consumer goods, we examine four effects on demand and costs. Demand has proved highly variable and may remain so for some time; company performance has been all over the map, even within the same category; growth soared in 2020, and large companies captured a big chunk of it (exhibit); and most costs will likely remain higher in 2021.
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