In-person ‘retail therapy’ may be gone for good

For merchants, expecting a return to pre-pandemic business is not a strategy for success, says Eric Spangenberg, dean of the University of California, Irvine’s Paul Merage School of Business. Those who can innovate and put together the best alternatives to business as usual, he says, will be in the strongest position to capitalize on consumer demand moving forward. …Here, Spangenberg discusses how coronavirus-induced shifts in shopping behavior will likely transform the retail industry: