The year 2020 brought disruptions that reshaped daily life and placed intense pressure on the American economy. Public-health challenges, changes in work habits, and shifts in consumer behavior combined to create conditions “unlike anything it had faced before” for the retail sector.

As people stayed home, online shopping surged while physical stores struggled. “Traditional brick-and-mortar stores struggled to maintain sales and cover operational costs,” and many retailers that had survived past downturns suddenly faced uncertainty so deep that long-term planning became nearly impossible.

Even before the pandemic, retail was already changing as digital purchasing grew more popular. In 2020, that shift accelerated abruptly, creating “an uneven landscape” for long-established brands. Some companies tried to adapt by reducing inventory, cutting expenses, or improving their online presence, but “for many, these adjustments were not enough” to offset declining foot traffic and temporary closures.

Throughout the year, several familiar brands announced restructuring efforts, store reductions, or bankruptcy filings. These decisions marked “the end of eras for companies that had once been central to shopping culture in countless American communities.” Empty storefronts became visible reminders of a broader transformation in how people shop and how businesses operate.

One closure stood out for its history and symbolism. After nearly two centuries in business, Lord & Taylor permanently shut down all its remaining locations, underscoring just how profoundly 2020 reshaped American retail.