This past year signalled the beginning of a new phase in the industry — one that picks up where we had left off nearly four years ago. Discounts, a habit that temporarily disappeared in the face of booming demand as the world reopened, are back. E-commerce, which spiked in 2020 and 2021, has since returned to its slower, pre-pandemic pace of growth. Brick-and-mortar retail, meanwhile, saw a renaissance, and tourism — with the exception of China — exceeded 2019 levels by the summer of 2022. Even wholesale got a boost.⁠ ⁠ For the most part, pandemic surprises are over. But as those in the industry already know, the market remains volatile. The savviest survivors will be the ones quick to adapt. Read retail’s year in review by Cathaleen Chen. [Link in bio]