Globally, the retail industry was having a great start at the beginning of 2020. The revenues were going great and all was well until COVID-19 took over the world and the situation was turned around. The revenue and financial position of many brands were affected, but this is not the same for every retail business. Many retail brands have also flourished, despite all the restrictions and downfalls.
The recipe for success is different from retailer to retailer. However, there are a few important things like value, uniqueness, and premium. In these tough times, many retail brands opted to strengthen their online services.
So amidst the COVID-19, the top 10 brands that have witnessed a fast growth include names as big as Amazon and Walmart. In Amazon's case, not only have their products seen a boost in sales due to online shopping, but this includes services as well. Amazon Prime and Amazon Web Services are just two examples of at-home entertainment.
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It all depends upon the business nature of the retail brand - whether they sell products online or offline, the number of stores and outlets they have physically, and also the discounts and offers they are ready to give during these trying times.
The infographic below introduces us to the various trends of the brands in the midst of this global pandemic.Infographic by: https://www.visualcapitalist.com/