Pandemic Spurred Rally by Independent Retail

The pandemic was expected to weaken independent retail, with online commerce surging as lockdowns and social distancing became the norm. But that didn’t happen, writes Faire CEO Max Rhodes on Fast Company.com.

“When the pandemic repowered e-commerce, forced store closures were expected to serve as the final nail in the coffin for community shops around the world,” said Rhodes, who runs an online wholesaler. “And yet, three years later, independent retail is growing and we’ve seen twice as many new retail businesses on Faire. Meanwhile, nearly 2000 chain stores have closed, with UBS predicting we will see upwards of 50,000 more closures in 2023.”

Indeed, the pandemic “actually re-emphasized what makes these businesses so resilient: the power of human connection, the thrill of discovery and the advantage of agility … With independent retailers today leveraging technology in larger numbers than ever before, they are uniquely positioned to offer the ultimate shopping experience that will feed the next era of intentional consumerism.”

Click here for Rhodes’ full article.