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09/30/2020
 
Posted By: Michael Provvisionato

Recently, VC companies have been buying many distressed American retailers. In a recent interview with Yahoo Finance, co-founder of Retail Ecommerce Ventures, Tai Lopez, claims that the biggest trend among distressed retailers today is, "not betting enough on ecommerce". His firm has recently acquired major American brands such as Pier 1, Modell's Sporting Goods, Dressbarn, and Linens-n-Things. The main part of turning these companies around has been leveraging a trusted brand name while revolutionizing the ecommerce experience for customers. This allows these companies to slash overhead, while modernizing provide a convenient shopping experience for customers.

Over 100,000 small businesses have closed in the U.S. since the beginning of the COVID pandemic. While Lopez works with major nationwide retailers, his blueprint can be scaled down to small and medium businesses. Providing a convenient ecommerce experience to customers helps to keep loyalty while expanding demographics. Doing so is essential to both surviving and thriving under current market conditions. Furthermore, experts claim that these conditions are indicative of the future of business. Many predict that the future of shopping and working has forever been changed in 2020, with many people prefering shopping and working remotely.
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