The COVID-19 pandemic has been blamed (or credited, depending on your perspective) for accelerating a number of key trends that were already in evidence prior to the shutdown of American society earlier this year. Perhaps the most noteworthy is the shift of consumer purchase activity to the internet. E-commerce, which has been gaining share at about 1% annually for the past several years, has exploded, with some suggesting it could account for 30% or more of home furnishings sales by the end of this year.
On the flip side, there have been suggestions the pandemic has reversed trends that had been building over the past several years. The most talked about is a seeming exodus of consumers from urban centers to the suburbs.
If true, this would reverse a trend that’s been building the past several years of people, and particularly Millennials, settling into cities and inner-ring suburbs to enjoy