Adapting to Change: How Brick-and-Mortar Retailers Responded to Consumer Behavior Shifts During COVID-19

Abstract

In response to the drastic challenges brought by the COVID-19 pandemic, brick-and-mortar retailers have had to adjust to the new consumer behaviors quickly. This research paper seeks to analyze and comprehend how these retailers responded differently, as described in each case study: J.C. Penney, Neiman Marcus, Best Buy, and Target, representing a spectrum of impacts and strategic adaptations. Hence, the comparison discovers that J.C. Penney and Neiman Marcus filed for bankruptcy because they could not transform themselves and be competitive under the new norms. Contrarily, the situation did not destroy Best Buy and Target's business as it altered the status quo in their favor. Achieving the flexible management of Best Buy and Target, which concentrated on the economic development of e-commerce interconnection of physical and digital operations, was their key achievement in this turbulent era. Only this way they could face the rising challenges. These scenarios demonstrate the role of adaptability and a well-integrated technology in retail. The result of the study denotes that the business would be able to win against its competitor only if it can adjust itself continuously to the drastic change in consumer behavior, including the rapid growth of online purchasing. The study predicts that the future of retail will likely require ongoing adaptability and take further focus on omnichannel strategies more seriously. It represents a shift from an immediate response to an analysis that investigates the long-term consequences for the retail sector.