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In the Media
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Are consumers steering clear of stores and restaurants as COVID cases rise?
Newly released phone data show that as COVID-19 cases surged in the summer of 2020, foot traffic to retail and dining establishments declined, suggesting that early optimism for an economic recovery may have been premature. Columbia Business School’s Mark Cohen observed that while some consumers initially ventured out after lockdowns, rising case counts led many to retreat, wary of health risks. This insight reveals how consumer confidence in public safety directly impacts economic resilience, especially in retail.
Cohen predicts that until health risks are controlled, this pattern of fluctuating consumer engagement will likely continue, posing an ongoing challenge for businesses that depend on in-person visits. His perspective underscores the essential role of public trust and health security in ensuring a sustained economic rebound.
Read the full article to explore how these consumer behavior trends could reshape strategies for retail recovery.
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CBS News