The retail and hospitality industries were among the hardest hit during the 2020 COVID-19
pandemic. Over 8 million jobs were lost in retail and hospitality in April 2020 alone.
Restaurant and foodservice sales fell by $240 billion in 2020, from a projected level of $899 billion, with more than 110,000 restaurants closing their doors either temporarily or for good, and more than 2.5 million jobs lost, according to the National Restaurant Association. The effects of the pandemic will continue throughout 2021 as well.
However, as restaurants begin to reopen, early signs have positive that consumers are eager to shop and eat out.
One thing is for sure. Operations have changed forever. Restaurateurs and retailers must adapt in order to stay in business. In this digital adaptation of a video blog series, HP has spoken to industry operators and experts about strategies they recommend for retail and hospitality to rebound.