On Friday, fast-fashion giant announced that they would close 170 of their brick and mortar stores in 2020.<br />This is 40 more stores than the Swedish brand planned for, after a 50% sales drop due to the coronavirus lockdown. <br />According to Business Insider, H&M says that they're focusing on beefing up their online sales. <br />H&M Group CEO Helena Helmersson said "...The rapid changes in customer behavior caused by the pandemic will further speed up the digitalization of fashion retail." <br />H&M isn't the only retail brand to make a shift towards online shopping. Inditex, which owns Zara and Massimo Dutti, will also be closing up to 2,200 stores as they ramp up their online sales. <br />Analysts believe that the pandemic will change how people shop, and that those more interested in online shopping will stay with it.
