'Slow and Steady:' Retail continues in survival mode due to COVID-19.
The struggles facing retailers amid the COVID-19 pandemic continued throughout Q3 and show no sign of letting up despite a very slight increase in activity this quarter.
Though most are adapting, retail continues to be in survival mode as government mandates just recently allowed for gyms, theaters and bowling alleys to open with restrictions and limited capacity. Restaurants have hung on, but limited seating poses challenges, even if businesses were able to add outside seating during warmer months.
Like Q2, drive-thru deals and essential businesses remained viable in Q3, while some quick-service restaurants looked to decrease their footprints to prioritize takeout and delivery, including Tropical Smoothie Café, Pizza Hut, Subway and Biggby Coffee. Many retailers continued adapting on the fly to create online takeout and delivery services for customers. Essential service outlets Like Dollar General, AutoZone, Popeye’s Chicken and Circle K continue to be active in the West Michigan retail market.