With an economic recession on the horizon, being agile has never been more important.

Physical spaces make those points of connection between merchants and customers possible, including online and offline commerce.Īs brands grapple with the challenges in 2023, they'll need to respond by adding flexibility to their products, plans, and policies. Shopping, working, and socializing online became commonplace.īut after years of lockdowns and restrictions, people now crave meaningful connection across all facets of life-including commerce. Online shopping jumped 77% year over year just months into the pandemic, accelerating the innovation and adoption of digital commerce by half a decade. The fiscal instability is driving the highest inflation in 40 years. *Įconomic obstacles from the pandemic were compounded further in 2022, when the Russia-Ukraine war led to sanctions that delayed or halted trade altogether. But 64% of global businesses are still recovering from the negative impact of the pandemic. In the past year, we’ve seen millions of businesses display resilience in the face of the unexpected, contributing to over $27 trillion USD of retail sales worldwide.

Buy outlook 2020