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COVID-19 impact | What 2020 was like for people in the retail industry The apparel industry and a slew of malls were battered as millions of Americans stayed home and a litany of dress-up events, from proms to weddings, were canceled or postponed. New York Times Representative image. The retail industry was in the midst of a transformation before 2020. But the onset of the pandemic accelerated that change, fundamentally reordering how and where people shop, and rippling across the broader economy. Many stores closed for good, as chains cut physical locations or filed for bankruptcy, displacing everyone from highly paid executives to hourly workers. Amazon grew even more powerful and unavoidable as millions of people bought goods online during lockdowns.

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