Summary
Forrester has updated its retail forecasts across North America, Asia, Europe, and Latin America to model out the possible impact of COVID-19. Our scenario model shows that retail will be hit hard. In 2020, global retail sales will contract by 9.6%, while eCommerce sales will remain flat. This ForecastView document models out the impact of three scenarios for 15 countries and shows how COVID-19 might affect essential and nonessential retail sales, offline and online, for the next five years. Please note: This model and report were created based on the information available on April 15, 2020, about the economic impact of the coronavirus for the regions covered. We will revisit this model when further adjustments are necessary.
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