McKinsey examines consumer goods and retail in the wake of COVID-19

BVWireIssue #222-4
March 24, 2021

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Consulting firm McKinsey has some very useful economic and industry reports, research studies, and regular briefings. The latest briefing (dated March 17) assesses the long-term effects of COVID-19 on the consumer goods and retail sectors. In consumer goods, company performance has been “all over the map” as growth soared in 2020 but with the large firms capturing the lion’s share. In retail, success in a post-COVID-19 world will require “hastened progress” on several long-standing imperatives and some new strategies. One of these long-standing mandates, of course, is the shift to “omnichannel,” led by digital shopping. Too many retailers are still making decisions based on a brick-and-mortar mindset.

A lot of free material is available from McKinsey on economic and industry analyses, particularly with respect to the COVID-19 crisis. For example, one chart shows projected small-business recoveries by industry (click here to view), and another shows the most likely scenario for COVID-19’s impact on domestic GDP in various countries (click here to view). All of this material is free, and you can sign up for regular alerts on the McKinsey website.

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