Fall 2020: Insights for the Public + Non-Profit Sectors
October 1, 2020
The COVID-19 pandemic and recent protests against injustice have not only left our economies spiraling into a recession but left many of our cities in uncertainty and distress. The overall decline in household discretionary incomes and prolonged periods of low consumer sentiment that typically follows a recession is anticipated to impact spending on retail (particularly in non-essential GAFO categories) and travel — the hardest hit sectors during the pandemic. Over varying time frames of 2-5 years, our cities are expected to recover slowly and will likely experience not only higher rates of brick-and-mortar store closures and interim commercial vacancies during this time, but the complete re-imagining of many of our urban places and systems.
It’s up to city leaders and thinkers to react and adapt to new market conditions, and to act boldly through policy and programmatic interventions to ensure a sustained and equitable recovery of our businesses and places. The following set of insights and recommended strategies aim to help guide the way that community leaders, policy makers, and program administrators across public and non-profit sectors rethink the way that cities deliver customer experiences, grow and market small local businesses, and support visitors when they return again.
In our newest trend piece, we’ll dive into:
- The Inevitable Move to Omnichannel Retail
- Continued Small Business Closures
- Open Air Shopping Venues + Main Streets Make a Comeback
- The Rise of Sanitation Theater
- The Revitalization of Outlying Areas, Bedroom Communities, and Exurbs
- Domestic Tourism on the Rise — for Now