The retail industry was in the midst of a transformation before 2020. But the onset of the pandemic accelerated that change, fundamentally reordering how and where people shop, and rippling across the broader economy.Many stores closed for good, as chains cut physical locations or filed for bankruptcy, displacing everyone from highly paid executives to hourly workers. Amazon grew even more powerful and unavoidable as millions of people bought goods online during lockdowns. The divide between essential businesses allowed to stay open and nonessential ones forced to close drove shoppers to big-box chains like Walmart, Target and Dick’s and worsened …
