The holiday season is upon us, and, for many, that means, among other things...time to shop. WEMU's Lisa Barry talks with Jun Li, an associate professor of technology and operations at the University of Michigan Ross School of Business, about what that means to local retailers and the overall shopping trends now and once the coronavirus pandemic has passed.
Another impact from the global health crisis we are currently in is being felt by local retailers, according to a University of Michigan professor of technology and operations.
Fewer people are going into stores right now, due to the circulating COVID-19 virus, and that prompted a 22 percent increase in online sales this past Black Friday, setting a record for 2020.
Jun Li, associate professor of technology and operations at the University of Michigan Ross School of Business, says the retail world was already headed to more of an online experience and says the pandemic has just sped that up.
She says this has prompted a lot of local business owners to offer more online shopping and says, for those who don’t, they will definitely see a huge hit to their business.
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