National Retail Association CEO Dominique Lamb has rejected the idea that COVID-19 spells the end for traditional bricks-and-mortar retail in her latest column.
Lamb argues that while some retailers will unfortunately exit the market due to the effects of the pandemic, many will reinvent themselves as they have done in previous years.
"To misquote the American author Mark Twain, reports of the death of retail have been greatly exaggerated," Lamb wrote.
"We know many members are going through their toughest times ever, and sadly we know some retailers will be forced to exit the industry before the impact of COVID has passed.
"But I’m sure you – like me – grow tired of the regular media articles about traditional retailers “staring down the barrel”, or – worse – predicting that there is no future for traditional in-store retail.
"The simple fact is that all businesses change and evolve over time.
"Sometimes that evolution is driven by competition and innovation; sometimes it’s driven by external forces.
"And sometimes evolution can feel more like revolution.
"So of course retail will be changed by COVID, as will almost every business sector," she said.
However, while many retailers will reemerge changed and prepared for the future, Lamb adds that the fundamentals of retail will not shift.
"What won’t change is that the fundamentals of our sector – customer service, quality products, competitive pricing and an overall great experience will be the foundation for success in the future.
"Yes, there has been a move to online shopping in some areas, and some of that business may not return to bricks and mortar stores.
"But our industry has adapted and reinvented itself over centuries, and we will do it again this time," she said.
As a final note, Lamb said that the recent focus on retail's importance to the economy is a positive for the industry.
"One of the positives that has come out of recent government decision making has been a very pro-business sentiment in the public and the media.
"There is a growing realisation of just how important retail businesses are to employment and economic activity.
"As the debate in Victoria has shown in recent days, people are arguing strongly for retailers to be allowed to do our job, and to create jobs for others.
"Hopefully this attitude will persist even once things have returned to normal," she said.