E-Commerce ‘Bump’
“I do think e-commerce will get a bump out of this that will be lasting,” Holt said.
A Barclays analyst estimates that between $61 billion and $118 billion in food sales will shift from restaurants to at-home during the second quarter of 2020.
Beyond the shift to online grocery shopping, Holt isn’t sure how shopping patterns will change, but he’s sure that things won’t be the same once the nation gets past the pandemic. He recalls his grandmother, who came of age during the Great Depression and never wanted to throw anything away.
“Events like that are lasting,” he said. The coronavirus “is something I’ve never seen in retail.”
This article was provided by Bloomberg News.