The retail industry survived the COVID-19 pandemic thanks to its rapid adoption of digital sales channels amid lockdowns and social distancing restrictions imposed by governments worldwide. Retail companies have been restructuring their supply chains and reinventing their physical stores over the past two years to comport with the digital age.
Skyrocketing inflation rates and escalating Russia-Ukraine tensions caused consumer confidence to plummet early last month, after rebounding in January. However, consumer confidence rose by 1.8% in late February. As a strong labor market further boosts consumer confidence, big-box retailers are expected to generate increasing revenue and earnings growth in the near term.
