The retail industry was in the midst of a transformation before 2020. But 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 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. Businesses closed because of protests over George Floyd’s killing by a white police officer, and they reckoned with their own failings when it came to race.

Source: New York Times December 29, 2020 17:26 UTC