In short, retail is about to get a lot less bifurcated. Some of the most successful merchants will be those that understand how to bridge the worlds of bricks and clicks and provide a cohesive, omnichannel experience to customers.
“Retail has always been a rapidly changing industry, but the sector experienced significant, seismic shifts during the turbulent COVID-19 period, and the retail environment is still evolving post-pandemic,” says Jenny Crittenden, President/CEO at Retail Alliance. “Some claim that retail is dead, but even during the peak of the pandemic in 2020, retail sales accounted for over $66 billion in Virginia sales tax revenue. I’d argue that retail is quite alive.”
But just how alive is it, and how can merchants best navigate the new normal? To help answer these questions Retail Alliance is holding their first Virginia Retail Matters - A State of Retail event at the Renaissance Portsmouth-Norfolk Hotel on September 22, 2023. At the event, industry expert Matt Wagner, Chief Program Officer at Main Street America (MSA), will present the findings of a major retail study commissioned by Retail Alliance and conducted by MSA.
The study analyzed current sales statistics and retail trends, blending them with national and state findings from their “Main Street America Small Business Survey” of micro and small brick-and-mortar retailers across the U.S. to provide a detailed look at the status of retail in the U.S. and Virginia. Also at the event, Virginia Retail Federation lobbyists will speak to upcoming state legislation that may impact the retail sector in 2024.
Bringing together retailers, industry experts, and forward-thinking professionals, the event is an opportunity to delve into the latest trends, challenges and opportunities shaping the retail sector in Virginia. “This event is the first of its kind in Virginia and if you’re a retailer, do business with one, or serve in a resource or support role in the retail sector, you’ll find the study valuable and insightful,” Crittenden emphasizes. “We highly encourage all retailers—no matter the size, along with financial institutions, commercial real estate firms, economic development departments, Chambers of Commerce, trade associations, Main Street programs and local and state government representatives to attend.”
Learn more about the event at: RetailAlliance.com
